Increase in Energy Prices

[echat11]

The main reason for the increase in gas prices now and over the last decade, is that the UK got rid of nearly all of it's gas storage capacity. The smart European companies increased their storage capacity.
UK has 1% of Europe's gas storage capacity, Italy and Germany lead the way.

You couldn't make it up, the UK sell's North Sea Gas to European companies at the going rate, they store it because they have loads of storage capacity, then they increase the wholesale prices and sell it back to the UK.

https://www.theguardian.com/business...se-this-winter

[DE DOGS]

I wonder what Minister thought that up,?. Answers on a postcard, please.

[echat11]

Aside, Martin Lewis has been a big fan of 'switching suppliers', I get that.
When you had Ed Davey, Minister for Energy saying exactly the same thing,
it was 'hardly' a solution for 'people' in 'fuel poverty'.

[echat11]

9 energy suppliers gone.

https://www.expressandstar.com/news/...bles-payments/

[echat11]

OH! I didn't know it...

You now know, so we are happy to help in that regard.

[DE DOGS]

I don't know how true this is but, I wonder if it is worth checking out. Right Gas from the North Sea is sold to Europe, low and behold it is then sold back to HAVE A GUESS. The UK. Must be true it was on Radio 4.

[MIKE770]

they call it commercial practices? (Middlemen maybe)??

[echat11]

I don't know how true this is but, I wonder if it is worth checking out. Right Gas from the North Sea is sold to Europe, low and behold it is then sold back to HAVE A GUESS. The UK. Must be true it was on Radio 4.

This is from 2018.

https://www.reuters.com/article/uk-b...-idUKKBN1GV187

[echat11]

they call it commercial practices? (Middlemen maybe)??

It's forward planning, nobody has, they don't care about 'what if this happens scenario'? They are reactionary and not 'pro active'.