Displaying items by tag: gas

Britain’s gas storage levels have dropped to 'concerningly low' levels, with less than a week of demand available, warns Centrica, the operator of the largest gas storage site. Plunging temperatures and high reliance on gas-fired power, which accounted for 53% of UK electricity generation last week, have strained supplies. The early onset of winter and reduced wind power generation have further exacerbated the situation. Unlike Europe, which maintains mandatory gas storage targets, the UK relies on diverse gas sources, including liquefied natural gas (LNG) imports from the US and pipelines from Norway. The Labour government remains focused on transitioning to renewable energy, with investments in clean energy projects. Despite concerns, the department for energy has given assurances that the UK’s energy system is resilient. However, the ongoing conflict in Ukraine and sanctions on Russian gas continue to influence global prices, leaving households vulnerable to further energy cost increases.