- Reports in the media that natural gas prices in the U.K. have more than quadrupled over the last year to highs of 180p per therm from around 40p per therm this time last year are making headlines.
- However, natural gas - and energy prices, broadly - have been rising strongly. This has been the case, not just in the U.K. but across Europe for much of this year.
- In part, this is weather-related. Exceptionally low winds are failing to generate sufficient renewable energy. However, the situation is also due to the rise of natural gas prices, globally and specifically in Europe.
For further details see:
Record Natural Gas, Resulting Power Prices Cause Alarm In Europe's Steel Industry