Fuel Prices Soar

Not by Fire but by Ice



 Updated 14 November 2005      


Fuel Prices Soar in UK  

- 3 Nov 05 - Gas and electricity prices soared 70 per cent last week as traders worried that the UK 's utility network will be unable to cope with the winter's first real cold snap and the closure of a gas terminal. Utility bills have already increased by about 20 per cent over the past 18 months.

Craig Lowrey, from EIC, an energy consultancy, said that there was more market nervousness than normal about how the gas pipeline network could cope this winter. Falling gas reserves in the North Sea mean that the UK needs to import more gas from mainland Europe , but enough new pipelines to transport this gas will not be ready for several years. "There is a fear that gas supplies from the Continent cannot be relied upon," said Mr Lowrey.

See full article at: http://news.independent.co.uk/business/news/article326720.ece




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