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Michael norton, Sept 18, 09:33 (previous page):
– “Clark was right, we are in a bit of a pickle.”
It may be worse than I thought. The following is from the Telegraph, but Yahoo financial news has a non-paywalled copy. Remember I complained that the gas storage facility at Rough was permitted to decay, and was then closed. Well –
– Mounting fears of a 1970s-style three-day week as Britain’s energy crunch deepens
– The UK has slashed its strategic gas storage to barely 1.7% of annual demand by closing the Rough facility off the Yorkshire coast, subcontracting the costly task of storage to Germany and the Netherlands. Clive Moffatt, a gas consultant and former adviser to the Government on energy security, said: “It should be nearer 25%.”
– …Mr Moffatt said he warned that closing Rough was a dangerous decision in key meetings with British officials but the Department for Business, Energy and Industrial Strategy dug in its heels. “They refused to listen and kept saying that we had diversity of supply: they misunderstood the responsiveness of liquefied natural gas to short-term shocks,” he said.
– “We are now extremely vulnerable and I’m afraid the situation is going to get worse. Prices could go through the roof. You can’t rely on the interconnectors. Contracts can be rescinded and suppliers can declare force majeure: end of story. The EU made this very clear during the negotiations over Brexit,” Mr Moffatt added.