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British energy firms fear collapse
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JAB
Sep 20, 2021, 5:04:44 PM9/20/21
to
British energy firms fear collapse as Europe's gas crisis sees prices
surge 250%
Britain’s energy industry could be headed for a significant shake-up,
industry insiders have warned, as countries all over Europe grapple
with an unprecedented crisis in the power sector.
Wholesale gas prices have spiked across the region, with the U.K.
being hit particularly hard.
...
...
Robert Buckley, head of relationship development at Cornwall Insight,
told CNBC that the crisis was being caused by a "cocktail of pretty
potent things" that were outside of suppliers’ control.
These included strong competition for natural gas deliveries between
Europe and Asia, some outages at U.S. production facilities, and a
tightening of EU carbon market rules, as well as various other
factors.
"All suppliers will be finding it very tough at the moment," Buckley
said. "Some of them are bigger and more resilient than others. But
scale doesn't equal automatically resilience."
He added that "it looks like it’s going to get worse before it gets
better" in terms of suppliers leaving the British electricity and gas
market.
<https://www.cnbc.com/2021/09/20/british-energy-firms-fear-collapse-as-european-gas-prices-surge-250percent.html>
surge 250%
Britain’s energy industry could be headed for a significant shake-up,
industry insiders have warned, as countries all over Europe grapple
with an unprecedented crisis in the power sector.
Wholesale gas prices have spiked across the region, with the U.K.
being hit particularly hard.
...
...
Robert Buckley, head of relationship development at Cornwall Insight,
told CNBC that the crisis was being caused by a "cocktail of pretty
potent things" that were outside of suppliers’ control.
These included strong competition for natural gas deliveries between
Europe and Asia, some outages at U.S. production facilities, and a
tightening of EU carbon market rules, as well as various other
factors.
"All suppliers will be finding it very tough at the moment," Buckley
said. "Some of them are bigger and more resilient than others. But
scale doesn't equal automatically resilience."
He added that "it looks like it’s going to get worse before it gets
better" in terms of suppliers leaving the British electricity and gas
market.
<https://www.cnbc.com/2021/09/20/british-energy-firms-fear-collapse-as-european-gas-prices-surge-250percent.html>
JAB
Sep 23, 2021, 1:28:44 PM9/23/21
to
Energy firms' collapse hits 1.5 million customers
Nearly 1.5 million customers have been hit in just two weeks by energy
firms collapsing under soaring gas prices.
...
...
However, the government has cooled on the idea of loans to the
industry, says BBC business editor Simon Jack.
Mr McGirr predicted: "You will see larger suppliers feeling the pain
as well and they will come cap in hand for a bailout."
He criticised the government for supporting US fertiliser firm CF
Industries to restart its fertiliser factory, which produced carbon
dioxide used in the food industry as a by-product, while allowing
energy firms to fail.
Its closure had raised fears over food supplies and the nuclear
industry.
"Why do they need a bailout and we don't?" he asked.
https://www.bbc.com/news/business-58657802
Nearly 1.5 million customers have been hit in just two weeks by energy
firms collapsing under soaring gas prices.
...
...
However, the government has cooled on the idea of loans to the
industry, says BBC business editor Simon Jack.
Mr McGirr predicted: "You will see larger suppliers feeling the pain
as well and they will come cap in hand for a bailout."
He criticised the government for supporting US fertiliser firm CF
Industries to restart its fertiliser factory, which produced carbon
dioxide used in the food industry as a by-product, while allowing
energy firms to fail.
Its closure had raised fears over food supplies and the nuclear
industry.
"Why do they need a bailout and we don't?" he asked.
https://www.bbc.com/news/business-58657802
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