Wed. Jun 19th, 2024

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Britain will have ‘enough gas for first winter outside EU’

Britain will have 'enough gas for first winter outside EU'

It seems that Britain will be able to maintain steady electricity and heating in the first winter post Brexit even if the EU electricity and gas come to a stop. The energy system operator National Grid has said that no extra challenges are being posed to the energy supply in the country. Even if no imports take place, the UK will be able to feed off the existing supply and still have some leftover.

The annual winter forecast of the National Grid also revealed that the weaning off from EU energy will come at a price to those who pay energy bills. the wholesale price of electricity is said to be increasing in the UK market and importing lesser electricity via megacables to France and Belgium will also lead to higher prices.

The UK is more likely to be affected by increased gas bills on global energy markets if the competition with Asian countries for LNG does not relent. The cargoes are bought and sold on the international market which is stocked with supplies, but one snap from the Japanese market could render the prices increased once again mid-winter.

The report which was commissioned before 2016 and the referendum said that energy bills could increase by 500 pounds every year by the time 2025 rolls around. This will only happen if the UK leaves the EU energy market. In its latest findings, National Grid says that the no-deal plan dubbed Operation Yellowhammer, predicts an increase in energy prices for both homes and businesses.

The UK can also get gas from the North Sea or Norwegian gas. This winter, the UK has more has than last year despite the use of renewable electricity rather than gas-fired power plants because homes are currently using more gas for internal heating.

The National Grid expects that the UK will burn through 11.7 billion cubic meter of gas in order to produce electricity in the coming months as compared to 12.3 billion cubic meter in 2018. Meanwhile, home use has gone up from 28.7 bcm last year, to 30.6 bcm this year. The showdown in the UK home energy efficiency efforts is being blamed for the increase in demand for gas for home heating.

Jonathan Marshall, the head of analysis at the Energy and Climate Intelligence Unit has said that the reduction of home used gas has not succeeded while more gas power stations will further take the UK off track. The British gas reserves are depleting at an alarming rate, demanding that home use and use of fossil fuels be decreased majorly to welcome a cleaner and greener, as well as a cheaper energy future.


Jacob Lee

Jacob Lee is the writer behind all our Trade and Business policy related stories. His flair for writing, editing has led Front Statement to have a standing among the best news reporting blogs. Business trends, market fluctuations, and keeping track of the upturns and downturns of the economy are additionally taxed onto our able writer, who handles it with ease and elegance.

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