BusinessPostCorner.com
No Result
View All Result
Wednesday, May 28, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

British Gas owner Centrica warning on gas storage will not affect supply, says no 10

January 10, 2025
in Business
Reading Time: 2 mins read
A A
0
British Gas owner Centrica warning on gas storage will not affect supply, says no 10
ShareShareShareShareShare

Centrica said that the amount of gas in UK storage facilities were currently about half full.

It comes during freezing conditions in the UK, but the Met Office has said Friday will see “the start of a change to our weather”, and it is forecast to get milder next week.

Craig Lowrey, principal consultant at Cornwall Insight, said that there are various gas pipelines running from Europe to the UK, and the country also gets shipments of liquified natural gas.

Given household energy prices are currently capped until the end of March, any shortage would be very unlikely to affect consumer bills, he told the BBC.

If there was a short-term spike in wholesale prices, this could affect some business customers, he said.

However, the weather in the UK is forecast to get milder from next Tuesday, so a spike may not happen, he added.

Wholesale prices are currently lower than the beginning of the year.

Gas inventory levels have come under pressure from the cold weather conditions and the end of Russian gas pipeline supplies through Ukraine at the end of last month.

Britain has relatively little capacity to store gas, but is has more than it did compared with a few years ago.

About half of the capacity it has is at Centrica’s Rough facility off the coast of East Yorkshire.

This was closed in 2017, but then partly reopened in October 2022 following the energy crisis triggered by Russia’s invasion of Ukraine.

There is also liquid natural gas storage at three terminals, and other smaller facilities across the country.

If the UK needed more gas, traders would have access to EU stocks, provided they paid the right price.

Centrica wants to invest £2bn in the Rough facility, so it can use it to store hydrogen as the UK starts to burn less natural gas as part of green targets.

It has been pushing the government to say hydrogen will be part of the UK energy mix in the future to justify that investment.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Deadline extended for Top New Products submissions

Next Post

Ex-Credit Suisse client charged by US amid tax evasion probe

Next Post
Ex-Credit Suisse client charged by US amid tax evasion probe

Ex-Credit Suisse client charged by US amid tax evasion probe

XRP Price Prediction: After 50% Gains, Could This Be the Start of a Long-Awaited Supercycle?

XRP Price Prediction: After 50% Gains, Could This Be the Start of a Long-Awaited Supercycle?

May 22, 2025
Pension fund investors demand Musk work 40-hour week at Tesla

Pension fund investors demand Musk work 40-hour week at Tesla

May 28, 2025
Trump Gifts Tron Founder Justin Sun Golden Watch for Being Top $TRUMP Holder

Trump Gifts Tron Founder Justin Sun Golden Watch for Being Top $TRUMP Holder

May 23, 2025
Donald Trump’s tariff plans could spark global economic shock

Donald Trump’s tariff plans could spark global economic shock

May 23, 2025
Half the world population could be diabetic or insulin resistant by 2050

Half the world population could be diabetic or insulin resistant by 2050

May 26, 2025
XRP Price Prediction: XRP Holds .31 Before Memorial Day Volume Decline — Will Reduced Institutional Activity Spark Rally to .75?

XRP Price Prediction: XRP Holds $2.31 Before Memorial Day Volume Decline — Will Reduced Institutional Activity Spark Rally to $2.75?

May 25, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

Target missed analysts’ sales expectations by nearly half a billion dollars in the aftermath of DEI-related boycotts

Target missed analysts’ sales expectations by nearly half a billion dollars in the aftermath of DEI-related boycotts

May 28, 2025
Pension fund investors demand Musk work 40-hour week at Tesla

Pension fund investors demand Musk work 40-hour week at Tesla

May 28, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!