This past winter was a bad one. Gas supplies were low, and this caused a number of energy companies to jack up prices. This price increase lead to a number of people falling behind on their gas bills and many of those people are still paying off this backlog of overdue payments. So they will be pretty upset if they found out that Britain’s main energy suppliers were holding gas back during this time. Unfortunately, that may just be the case.
According to a report from the National Grid, the main energy suppliers in the UK were holding gas in storage tanks during a time when the market was suffering a gas shortage. This, in turn, saw a doubling of wholesale gas prices, which consumers had to pay for. This news comes to light just after claims suggest that the UK, at one point, was within six hours of completely running out of gas. Although the UK never suffered a complete shutdown of gas services, it did raise fear in the public that gas supplies were dwindling down. Now, with this new report, who is really telling the truth?
The National Grid says energy suppliers are not as low on gas supply as they are letting on. The network, which is tasked with keeping up with data from all gas companies, said that liquefied natural gas in the Isle of Grain is about 40 percent full. The Isle of Grain is located near London. It is an area that suppliers like BP and Centrica use to store their natural gas. The National Grid went on to say that other locations near Wales were at 52 percent capacity on the same day. These readings were taken at the time that the UK pubic was told that gas supplies were almost empty.
So the real question is: Which reports are correct? Most people are siding with the National Grid just because it seems like this group would not have a reason to lie about the supply of natural gas. Energy suppliers, however, would have a lot of profit to gain from spreading the rumor that gas supplies were nearly all dried up. At this point, it is still far too early to tell which side is correct or if the truth is found somewhere in between. Either way, it is safe to assume that energy suppliers are going to be investigated and watched a lot more closely in the coming years.