UK Energy Prices

[Carth]

Originally Posted by Jaymoss

And now the Garlic eaters are threatening to cut off our power again...

Not like them to be starting a war . . it's probably the German influence

anyway, screw em, I'm up for some 'tit for tat' childishness

[Mr K]

Originally Posted by Carth

Not like them to be starting a war . . it's probably the German influence

anyway, screw em, I'm up for some 'tit for tat' childishness

They've got wine, cheese, good cuisine, culture.
We've got some sheep .....

[Carth]

Originally Posted by Mr K

They've got wine, cheese, good cuisine, culture.
We've got some sheep .....

. . and fish . . and lots of their dinghies

Back on topic, please

[Taf]

6th October

"The price of UK (wholesale natural gas) has hit its highest level ever, rising by 37% in the past 24 hours."

[Jaymoss]

it is the freaking Russians Gazprom throttling Europe wanting its own way over a pipeline that is not meeting certain standards

US did the right thing when it come to fuel. I do not know what we can do. Can we quickly build our own storage and pipe it in from the North sea. Do we still have Gas rigs in the North Sea? offloading storage to France is one of the worse things that our countries leaders ever did

[pip08456]

Yes there still are gas rigs in the North Sea, not as many though.

https://en.wikipedia.org/wiki/List_o...United_Kingdom

Shale gas is always an option.

[1andrew1]

Originally Posted by Jaymoss

it is the freaking Russians Gazprom throttling Europe wanting its own way over a pipeline that is not meeting certain standards

US did the right thing when it come to fuel. I do not know what we can do. Can we quickly build our own storage and pipe it in from the North sea. Do we still have Gas rigs in the North Sea? offloading storage to France is one of the worse things that our countries leaders ever did

What storage did we offload to France?

Texas failed to invest in storage and suffered blackouts as a result, so US is not necessarily a good example to follow.

As FT commentator Brooke Masters notes, the market has not delivered storage capacity and this is strongly needed by the UK due to its reliance on renewables. Market failure. I don't know if this was flagged by the regulator but this is a key reason why we're in a worse situation than a lot of our peers.

But Britain has proved uniquely vulnerable in part because of its poorly thought out approach to decarbonisation. A net importer of energy since 2004, the UK has plunged into green energy. Last year it drew a record 43 per cent of its electricity from renewables. However, that share dropped to 37 per cent this spring, as lower than normal wind speeds and fewer sunny days hit production even while demand grew.

Variability is an occupational hazard of relying on solar and wind power, as critics of rapid decarbonisation regularly point out. Yet the UK repeatedly failed to invest in the infrastructure needed to provide proper back-up.

Energy group Centrica announced the closure of the UK’s largest gas storage site in 2017 over safety concerns, and nothing replaced it. Electricity interconnectors linking the UK to European grids are being built — one to Norway became fully operational this week — but they take decades, and a link to Iceland has been delayed by Brexit.

Japan locks in liquefied natural gas supplies with long-term contracts. But UK suppliers, lulled by years of low prices, rely mostly on spot markets. This year’s spike left them scrambling and wiped out the weakest ones.

The fundamental lesson is that headline-grabbing wind and solar projects are not enough. Back-up power and infrastructure improvements are critical, and the private sector is not lining up to provide them.

https://www.ft.com/content/b583559e-...1-32f5734ca1c6

[Jaymoss]

Originally Posted by 1andrew1

What storage did we offload to France?

Texas failed to invest in storage and suffered blackouts as a result, so US is not necessarily a good example to follow.

As FT commentator Brooke Masters notes, the market has not delivered storage capacity and this is strongly needed by the UK due to its reliance on renewables. Market failure. I don't know if this was flagged by the regulator but this is a key reason why we're in a worse situation than a lot of our peers.

https://www.ft.com/content/b583559e-...1-32f5734ca1c6

Typical middle class thing to do is post links to a news site behind a paywall. You have seen me mention in this thread how the new prices are going to make me struggle. I am insulted you think I can afford to waste money on the Financial Times

[OLD BOY]

Originally Posted by Jaymoss

Typical middle class thing to do is post links to a news site behind a paywall. You have seen me mention in this thread how the new prices are going to make me struggle. I am insulted you think I can afford to waste money on the Financial Times

Simply copy the title of the article and paste it into the search box. Voila!

[Taf]

I wonder how long before the question of a tidal barrage on the Severn Estuary reappears? £millions on consultants, then back on the shelf for a few years.

Electricity would be generated as the lagoon filled and emptied, plus a nice route for a motorway between South Wales and The West Country that wouldn't be shut every time the wind got up.

[OLD BOY]

[Duplicate post]

[1andrew1]

Originally Posted by Jaymoss

Typical middle class thing to do is post links to a news site behind a paywall. You have seen me mention in this thread how the new prices are going to make me struggle. I am insulted you think I can afford to waste money on the Financial Times

It's not right that a poor energy policy is likely to make people in the UK, a wealthy country struggle. That's why I'm keen to raise the issue.

I've posted the necessary extract to make the point without breaching copyright by posting the entire article. To read the full article, you can Google the headline "Memo to countries going green: don’t be like the UK". I'm sorry that I didn't mention this bit in my post.

Originally Posted by 1andrew1

It's not right that a poor energy policy is likely to make people in the UK, a wealthy country struggle. That's why I'm keen to raise the issue.

I've posted the necessary extract to make the point without breaching copyright by posting the entire article. To read the full article, you can Google the headline "Memo to countries going green: don’t be like the UK". I'm sorry that I didn't mention this bit in my post.

Excellent quote from that piece:

We force banks to hold capital reserves against unexpected demand. Why not require the same of energy providers?

[nomadking]

Originally Posted by Jaymoss

it is the freaking Russians Gazprom throttling Europe wanting its own way over a pipeline that is not meeting certain standards

US did the right thing when it come to fuel. I do not know what we can do. Can we quickly build our own storage and pipe it in from the North sea. Do we still have Gas rigs in the North Sea? offloading storage to France is one of the worse things that our countries leaders ever did

"Certain standards"? It's all about anti-Russian sanctions. Germany is happy with the 2nd pipeline, following the route of the 1st Nord Stream.
Link

Today’s report is in line with the United States’ continuing opposition to the Nord Stream 2 pipeline and the U.S. Government’s continued compliance with PEESA, as amended. With today’s action, the Administration has now sanctioned 7 persons and identified 16 of their vessels as blocked property pursuant to PEESA in connection with Nord Stream 2. President Biden also signed today an Executive Order that allows the U.S. Government to impose sanctions applicable to PEESA-designated persons without the exception relating to the importation of goods in Section 7503(e)(5) of PEESA, as amended.

Link to pdf

Supporters of Nord Stream 2, including the German and Austrian governments, argue the pipeline would enhance EU energy security by increasing the capacity of a direct and secure supply route. German officials say they support the development of infrastructure to ensure that gas can be transported across Europe once it reaches Germany. They stress that Germany supports broader European energy supply diversification efforts, including construction of new liquefied natural gas (LNG) terminals in northern Germany.
Opponents of the pipeline—including, among others, some EU officials, the European Parliament, Poland, the Baltic states, Ukraine, the Biden Administration, and many Members of Congress—argue that it would give Russia greater political and economic leverage over Germany and others that are dependent on Russian gas, leave some countries more vulnerable to supply cutoffs or price manipulation by Russia, and increase Ukraine’s vulnerability to Russian aggression.

The gas that passes through the Ukrainian pipeline comes from ..... Russia.
Doesn't help that German demand for gas has soared because they are closing the nuclear power stations.

---------- Post added at 19:05 ---------- Previous post was at 19:02 ----------

Originally Posted by Chris

Excellent quote from that piece:

With banks it's about access to people's money, that the people already own.