Some of Europe’s highest energy costs expected in Britain this winter
Summary
Great Britain is expected to face some of the highest energy costs in Europe this winter due to increased reliance on gas and electricity imports. Officials have secured deals to keep gas flowing despite market price rises and supply challenges across Europe.Key Facts
- Britain will have enough gas and electricity in winter by paying higher prices to secure imports.
- National Gas agreed with a Belgian pipeline owner to keep gas flowing by avoiding a planned capacity reduction.
- This deal will add about 10 pence to the average monthly gas bill.
- Britain plans to increase imports of liquified natural gas (LNG) by about 5% compared to last winter.
- European gas storage is at its lowest in 13 years due to supply problems and high summer use for cooling.
- UK gas production is expected to fall by 6% this year, but a new North Sea gas field may increase supply soon.
- Britain is forecast to import more electricity this winter, mostly from France, at a higher cost.
- Gas power plants may be used more during supply shortages despite growth in renewable energy.
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