End of Russian gas deliveries to European customers could have ‘repercussions’ on UK prices, says National Grid
The end of Russian gas supplies to European customers could drive up UK energy prices even further, Britain’s National Grid has warned.
“Although Britain is not dependent on Russian gas to the extent that the rest of Europe is, it is clear that stopping gas flows to Europe could have repercussions, including prices very high”, The electricity system operator of National Grid (ESO) stated in its report Thursday.
“We are taking steps to strengthen our resilience to potential risks and uncertainties due to a potential gas supply shortage in Europe,” says the report.
“This includes extending the life of coal-fired units and exploring market-based demand response.”
Britain and the EU imposed sweeping sanctions on Russia after it launched a military operation in Ukraine in late February.
The 27-nation bloc has pledged to phase out Russian gas and agreed on Sunday to cut the use of deliveries from Moscow by 15% through the winter. The moves come amid soaring energy prices in Europe and fears among some Western politicians that Russia could shut off supplies altogether.
Sanctions on Russia could leave Britain without fish ‘n’ chips
The average monthly energy bill for British households could top £500 ($609) from January, British consultancy BFY Group said on Wednesday.
“A large part of the British public will not be able to pay their bills this winter,” warned senior consultant Gemma Berwick, quoted by Bloomberg. “Average families with two working parents will be in fuel poverty.”
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