The gas price has exploded in Great Britain since the beginning of the year.
(Photo: dpa)
London In Great Britain, the massive increase in gas prices within a very short period of time is causing considerable problems. British Economy Minister Kwasi Kwarteng held several crisis meetings with representatives of the industry over the weekend, while State Secretary Alok Sharma, responsible for the COP26 climate conference, tried to appease him in an interview with the BBC on Sunday.
There is “no risk at the moment with the supply,” said Sharma. Renewable energies urgently need to be expanded rapidly.
The BBC reported, citing the industry association Oil & Gas UK, that wholesale gas prices in the UK have risen by 250 percent since January this year, by 70 percent since August alone. Among other things, high global demand, problems with some companies and lower energy generation from wind and sun are responsible for this.
The high gas prices have already led to the temporary closure of individual plants of fertilizer manufacturers – resulting in a shortage of the by-product CO2, which is used for the packaging of fresh food such as meat or frozen products. Food companies therefore expect bottlenecks and problems in the coming weeks.
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According to the Guardian, several small energy companies are on the verge of financial collapse. Five have already had to give up in the past few weeks. The government is reportedly working on plans to prevent price increases from spilling over into UK consumer bills.
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