UK GAS PRICES SOAR
(Published 3 December 2010)
The National Grid has raised concerns over gas bills this winter, as the recent arctic weather results in a 25% increase in demand for gas compared to this time last year.
December 1st saw the third highest daily gas consumption on record as households and businesses turned up their thermostats.
This dramatic surge in demand has caused concern in wholesale markets, with the price of gas jumping by 11% to 62p per therm, which is the highest level in 18 months.
On top of this increase in the cost of gas, electricity prices have also climbed by two thirds since the start of the winter, leaving homeowners facing the possibility of record heating bills.
Rebecca Seabury, energy analyst at consultancy firm Inenco, said: "What we could see is if wholesale gas prices stay up for an extended period there's a chance that bills could go up again."
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