UK warned over en­ergy price rises

Midweek Sport - - NEWS -

HOUSE­HOLDS are brac­ing for fur­ther en­ergy bill hikes af­ter reg­u­la­tor Ofgem warned Bri­tain was head­ing for a “hor­ren­dous” sup­ply crunch.

Alis­tair Buchanan, its out­go­ing chief exec, said the UK was fac­ing an “un­com­fort­able” squeeze in en­ergy re­serves over the next three years as age­ing power plants close and the coun­try is forced to im­port gas at a time of tight global sup­ply.

With coal and oil-fired power sta­tions clos­ing ear­lier than ex­pected to meet en­vi­ron­men­tal tar­gets, 10 per cent of cur­rent gen­er­a­tion stock will go by April.

Mr Buchanan said it was in­evitable that prices will rise as sup­ply strug­gles to keep up with de­mand.

He added: “It’s just hor­ren­dous serendip­ity that as we have a squeeze on our power and turn to gas, the global mar­kets have a squeeze.”

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