energy - running out of gas
WORKERS, APR 2005 ISSUE
Within weeks of British Gas announcing a 64% increase in profits (on the back of a 22% price increase in gas and 18% increase in electricity to domestic consumers), gas manufacturers said Britain had less than 3 days' gas reserves if the wintry conditions persisted. Prices, it was said, could rise 30% more.
Britain operates the most unregulated gas market in the European Union, and reserves have been depleted by top-up buying by EU countries. The government has powers to restrict such buying but has never shown any willingness to use them.