energy
Britain Has 'Almost No Gas in Storage' Ahead of Winter, Energy Boss Fears
Household energy bills have soared to their highest level in three years
TL;DR
- Britain has "almost no gas in storage" ahead of the coming winter, according to Centrica boss Chris O'Shea.
- O'Shea described the situation as a "huge concern" and stated that "time is rapidly running out" to address it.
- Centrica operates the Rough gas storage facility, which is set to close next year without government intervention.
- The company plans a £2 billion redevelopment of Rough but needs government guarantees on gas prices to ensure economic viability.
- Norway, Europe's largest gas supplier, is also facing potential production slowdowns after 2030 and cannot single-handedly balance the European power market.
- A UK government spokesperson expressed confidence in the nation's energy security, citing a diverse energy mix and ongoing discussions about gas storage.
- The government views the future of Rough storage as a commercial decision for Centrica but remains open to discussing proposals that provide value for money for taxpayers.