Families may have to pay higher energy bills unless the government subsidises a gas storage facility recently mothballed by Centrica. The warning — from Italian energy distribution giant Snam — follows the recent closure of the Rough plant off the Yorkshire coast. Snam’s chief executive Marco Alvera said the decision would leave Britain more exposed to spikes in wholesale prices. “Flows from storage [plants] allow countries to smooth over short-term price volatility,” he said. “Without it . . . the UK may need to pay higher prices to attract gas from Europe or buy LNG cargoes”.
Times 2nd July 2017 read more »