UK Utility Company Capable Of Allaying Gas Shortage Risk Amid Surging Prices - Authorities

UK Utility Company Capable of Allaying Gas Shortage Risk Amid Surging Prices - Authorities

The National Grid Gas has the levers to mitigate gas shortage risks in the United Kingdom amid a spike in prices, the UK Department for Business, Energy and Industrial Strategy said on Saturday

MOSCOW (Pakistan Point News / Sputnik - 18th September, 2021) The National Grid Gas has the levers to mitigate gas shortage risks in the United Kingdom amid a spike in prices, the UK Department for business, Energy and Industrial Strategy said on Saturday.

Natural gas prices have been rising in Europe since April. This past week, the 1,000 cubic meters (35,314 cubic feet) of fuel traded at the record of $963.9.

"National Grid Gas has a number of tools at its disposal to mitigate the risk of a gas supply emergency, including requesting additional gas supplies be delivered to the National Transmission System," the department said in a statement.

It assured citizens that the country has various energy supply sources at its disposal.

"We have a wide range of supply sources including direct pipelines across the North Sea from Norway to the UK, our single biggest source of imports. We are also investing millions into scaling up strong renewable energy capacity and driving down demand for fossil fuels," the department stated.

According to the UK authorities, more than 22 million British households are connected to the gas grid while 38% of the country's gas demand was for domestic heating in 2020, with electricity generation as well as industrial and commercial use accounting for 29% and 11%, respectively.