Page 6 - Gi_November2021

industry & Government news

DIGEST FAMILIES IN LESS

ENERGY EFFICIENT

HOMES TAKE HIT

OF GAS PRICE HIKE

SURGE IN UK WHOLESALE FAMILIES THAT LIVE in more
poorly insulated housing are
suffering the most from the global
GAS PRICES FUELS WINTER gas price increases, according to
Energy Live News.
A new report from the Energy
and Climate Intelligence Unit
ENERGY CRISIS FEARS (ECIU) has revealed that these
households are paying up to the
equivalent of £246 more on their
annual gas bills.
It states that those in homes that
fall under Energy Performance
Certificate (EPC) band D, which
is 37 per cent of UK homes, are
paying a quarter more annually for
gas use than those in band C.
The study does shine light on
the fact this would be as much
as 50 per cent more if not for
the energy efficiency measures
already installed.
GAS CONSUMERS HAVE BEEN However, the ECIU claims
WARNED TO EXPECT HIGHER BILLS government support for the sector
has fallen off drastically in recent
WHOLESALE GAS PRICES have reached has enough gas to avoid the lights going years, with a 95 per cent drop in
new all-time highs, stoking concern that out or a 1970s-style three-day working installations since 2012 – leaving
a cold winter could deepen a crisis that week, analysts warned low temperatures already struggling households with
has led to the collapse of multiple energy could exacerbate the crisis. even higher heating bills.
suppliers and raised fears of factory “If the winter is colder than normal, The 250 per cent rise in gas
shutdowns and soaring bills. natural gas supplies could run even prices since January has led to
The cost of coal and carbon emissions shorter, leaving Europeans and possibly families in bands E and F paying on
permits also hit record levels in other countries, especially those that average £197 and £246 more than
September, while crude oil exceeded $80 a can barely afford current energy prices, band C homes.
barrel for the first time in three years, amid in the cold,” said analysts at SP Angel.
a widening global energy supply crisis. Their counterparts at Refinitiv
The situation in the UK, where warned that even warmer than expected
market prices have quadrupled in the temperatures “might not be enough” to
past year, is particularly acute, reports bring down prices. “We conclude that
The Guardian. additional supply is a key driver for
Europe-wide price rises have been prices to soften this winter,” they said.
compounded by the UK’s unusually low A group of European politicians wrote
gas storage capacity, as well as outages to the European Commission calling
in the electricity system, including a fire for an investigation into whether the
at a key power import cable, leading to Russian state gas company Gazprom
increased reliance on gas power plants. was acting deliberately to stem the flow
Consumers have been warned to of gas into Europe.
expect higher bills and more household They expressed fears that Russia was
energy supplier failures, while heavy wielding its regional gas supremacy to
industry and the food and drink sector ramp up pressure to approve the Nord
are facing the prospect of shutdowns Stream 2 pipeline, which has been
and pre-Christmas product shortages. subject to sanctions and is awaiting
The “winter gas season”, when multiple regulatory approvals.
heating demand is usually higher, starts A Kremlin spokesperson denied
on 1 October and there are predictions Russia was using gas as a weapon POORER PEOPLE ARE LESS LIKELY TO
of a colder than average winter. against Europe and said Gazprom was HAVE AN ENERGY EFFICIENT HOME
While ministers have insisted the UK ready to boost supplies to Europe.

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