Too much Gas

[JamesWales]

Something has happened this morning. The price of British wholesale gas, already about 4 times what it was has jumped 20% in an hour. European gas by the same amount.

https://tradingeconomics.com/commodity/uk-natural-gas

[ToTaL ITK]

Re: Gas Price

was expected wasn't it?

[North Cardiff Blue]

Re: Gas Price

was expected wasn't it?

Yes this is why they have been calling for action before the Tory leader elections are finished.

A few weeks won't make any difference, it is all a mess though!

[JamesWales]

Re: Gas Price

This is the wholesale price - makes no difference who leads any of the countries impacted - they can decide how to try and cushion the blow but thats it.

Putin did have Europe (as a continent) over a barrel all along. Short of the war ending I'm not sure what the solution is here.

[Canton Kev]

Re: Gas Price

I fully expect to lose my job when the energy price hike kicks in. My personal bills are already up 60%, no idea how much my boss’ business costs will go up by.

These bill increases will kill off more small businesses than Covid. I can’t see how independent cafes, bars, pubs, restaurants, shops, etc can survive.

[JamesWales]

Re: Gas Price

I fully expect to lose my job when the energy price hike kicks in. My personal bills are already up 60%, no idea how much my boss’ business costs will go up by.

These bill increases will kill off more small businesses than Covid. I can’t see how independent cafes, bars, pubs, restaurants, shops, etc can survive.

I'm very sorry to hear that - what do you do if you don't mind my asking?

[Doucas]

Re: Gas Price

I don't understand why we've been so reliant on foreign energy sources, how no government has tackled this over the past 30 years I'll never know.

[JamesWales]

Re: Gas Price

I don't understand why we've been so reliant on foreign energy sources, how no government has tackled this over the past 30 years I'll never know.

Well, even though we are a gas producer of some significance, we use far more than we produce. So we import a huge amount, hence being impacted.

Even if theoretically we decided to keep all our own gas ourselves and there was no cost impact to that (there would be) we would still be importing.

The mood music over the last 30 years has all been about making energy production greener - see the Shale gas debate from the last decade.

Most of europe is worse hit than us, but cos the price is set globally, we are all impacted.

No way can governments absorb all the cost.

[WJ99mobile]

Re: Gas Price

I don't understand why we've been so reliant on foreign energy sources, how no government has tackled this over the past 30 years I'll never know.

A mix of nimbyism, green agenda and party politics

[A Quiet Monkfish]

Re: Gas Price

Yes this is why they have been calling for action before the Tory leader elections are finished.

A few weeks won't make any difference, it is all a mess though!

It won't. The prices now, and more pertinently those in the spring, are not blips but unpleasant consequences of idiotic inaction and actions by politicians - especially here in the UK. I suspect the 'govt'. is stalling from action on this because it could mean having to support families and small businesses for years to come..

[Canton Kev]

Re: Gas Price

I'm very sorry to hear that - what do you do if you don't mind my asking?

Manager at a bar/restaurant. We’ve got 17 members of staff so we’re only a small business.

The frustrating thing is it’s absolutely no one’s fault. I’ve worked at and know of businesses that have ceased to exist in the past and it’s always been due to poor management, bad owners, non viable business plan, etc. But even if we do everything by the book to the best we can, it’s out of our hands.

Another concern is that for places like us, this isn’t just a winter issue. Our energy usage is pretty consistent throughout the year so we can’t just “get through the winter” and enjoy lower expenses in spring/summer.

[William Treseder’s Mam]

Re: Gas Price

A mix of nimbyism, green agenda and party politics

Go on mate what do you mean by green agenda?

[WJ99mobile]

Re: Gas Price

Go on mate what do you mean by green agenda?

Closure of profit making coal mines.
Fracking applictions refused
Closure of nuclear power plants due to green levies
Social and environmental obligation costs added to bills

[Eric Cartman]

Re: Gas Price

This is the wholesale price - makes no difference who leads any of the countries impacted - they can decide how to try and cushion the blow but thats it.

Putin did have Europe (as a continent) over a barrel all along. Short of the war ending I'm not sure what the solution is here.

Need a time machine to either not become so dependent on gas or make sure that the UK state owns the supply and method of extraction.

This governments current obsession with 'encouraging investment in the north sea' as a means of short to medium term energy security is practically criminal as they know increasing activity in no way benefits the UK while everything pulled out is sold on the open market.

[Eric Cartman]

Re: Gas Price

I don't understand why we've been so reliant on foreign energy sources, how no government has tackled this over the past 30 years I'll never know.

Isn't the truly mad thing that the single most likely way out of this, massive investment in green energy, is still being trashed as a cause of the energy crisis rather than the cure.