The heads of two British energy companies (EDF and Good Energy), as well as the industry association Energy UK, have addressed the government with a statement about a “national crisis” due to skyrocketing gas prices amid Russia’s refusal to increase supplies. Reported by The Telegraph.
“This is a national crisis. Wholesale prices for gas and electricity have risen to unprecedented levels over the past three weeks, ”said Good Energy CEO Nigel Pocklington (translated by RBC).
Energy UK Executive Director Emma Pinchbeck said the UK Treasury needs to take action to address “the enormous inflationary risk to business and economic security, and for the sake of ordinary people who are at risk of a 50% increase in payments.”
According to the newspaper, the jump in wholesale prices “put the industry on the brink of disaster.”
For five days in a row Gazprom did not reserve the capacity of the Yamal-Europe gas pipeline. According to Bloomberg, this is due to the exhaustion of limits, due to which buyers have to pay for them at the prevailing market price.
Russian President Vladimir Putin commented on the record increase in the value of contracts for the supply of gas and accusations that Moscow is manipulating the market by not booking the capacity of the Yamal-Europe pipeline. The head of state said that Gazprom supplies the entire volume of gas under the existing long-term contracts, and refused from the mentioned resources, since German and French counterparties had not submitted bids for purchase.
British Foreign Minister Liz Truss urged Europe to avoid dependence on Russian gas amid a difficult energy situation, noting that the EU relies on Russia to supply more than 40% of its gas.
Source: Rosbalt
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