Gas Prices Fuel Anger

Shipoftheline

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As outdoor temperatures start to plummet, gas prices appear to be heading in the opposite direction.

Gas in Britain is now the most expensive wholesale fuel in the world - even more costly than oil.


On Tuesday the price of gas for businesses reached £1.65 per unit.

This is a five-fold increase since the beginning of November.

Around the same time, people in the Netherlands are paying 50p per unit and in Germany the price is just 40p.

In January 2004, the average gas bill in Britain was £357, but at the start of this year it jumped to £402 and as of this week it is costing householders around £450.

For vulnerable and poor people, these costs - combined with the cold weather - mean tough decisions need to be made.

Further price rises of around 15% are predicted next year. These would add £116 to the current average gas and power bill.
http://www.sky.com/skynews/article/0,,30000-13469137,00.html

I knew it was expensive but not the most expensive
 

Rat

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Moved to Main Site News
 

Shipoftheline

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Latest on the Gas situation,

Gas Companies Accused Of Price Fiddle
Updated: 09:29, Monday November 28, 2005
An urgent inquiry has been ordered to investigate claims that major gas suppliers have been withholding supplies to push up prices.

Gas and electricity watchdog OFGEM wants to ensure that the meteoric rise in prices in recent weeks is not due to "market manipulation".

Dwindling oil supplies in the North Sea, the recent cold spell and an erratically performing European market are among reasons given for the escalation in demand.

Fears of a fuel shortage and blackouts have also appeared to contribute to the surge in wholesale prices.

OFGEM has appealed to the European Commission to investigate why the gas pipeline between Britain and the continent has not been running at full capacity when demand has soared.

The EC warned in two recent reports there were "serious malfunctions" in the wholesale gas market, meaning gas held in storage abroad is not necessarily released by governments.

It is understood that some EU states have ordered its suppliers to prioritise domestic demand at the expense of exports.

An OFGEM spokesman said: "We are looking for answers to the recent inflation in prices."

It has been predicted that three-quarters of the UK's gas will be imported by 2015.

The wholesale gas price has leapt fivefold over the past few weeks and wholesale electricity prices have increased 150% as a result.

In September, British Gas announced it was putting up bills by 14.2% - equivalent to £96 on the average bill. Its rivals soon followed suit with price increases.
http://www.sky.com/skynews/article/0,,30000-13470872,00.html
 

viamphie

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why is it that necessary items are always the most expensive......oh yeh because there is money to be made in things that are needed..its the poor and elderly i feel sorry for
 

cailean2k

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The worst part is that the shortages are all created by trading consortiums. They have either been diverting the gas to more profitable markets. Or have been forced by the country they operate in to guarintee thier own supplies first.

Now that the price in the UK has been pushed up. They will all be selling us the gas they have been holding back.


p.s. I don't usually sound this cynical, but I get pissed off when I see these artificially created shortages.
 

digitalworld

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viamphie said:
why is it that necessary items are always the most expensive......
to make your life as difficult as possible + to divert your look from the real problems = to have you in control
lol
 
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