UK gas deficit warning

CIPS 16 March 2018

Views from the CIPS Energy and Water Specialist Knowledge Group on threats to the UK gas supply, higher energy prices and unseasonal weather.

Martin Rawlings from the CIPS Energy and Water Specialist Knowledge Group said, “Shocking news that gas prices have suffered such a hike, at a time when businesses and consumers need it the most. This is not an isolated incident however, bearing in mind the warning earlier in the month where there was a six-month high on demand and one of the coldest snaps seen for some years. 

“The CIPS Group has been warning Ofgem about these  potential problems for some time. These challenges have been triggered by some technical difficulties at the Dutch gas terminals, an outage at a gas processing plant in Norway and Centrica’s decision to close the largest offshore gas storage facility which was a main source of supply. There is also the added pressures because this not just a UK problem. Europe is also in the frame to experience similar squeezes as everyone competes on the best price and security of supply so more must be done to ensure the UK is not left behind.

“Now that the country is faced with another price rise and potential scramble to source what is needed, businesses and consumers may have to look at trimming their demand. Gas-fired power stations will be first in line, followed by large manufacturing businesses and lastly the consumer. Let’s hope that businesses have looked carefully at their agreements and plans to reduce their use of this precious commodity before ordinary people are left out in the cold.”

For more information about the energy group, see the website.

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