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Topic Title: UK just six hours from running out of gas in March
Topic Summary: How does the market in Gas work?
Created On: 24 May 2013 09:02 PM
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 24 May 2013 09:02 PM
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E&T has run the story

"UK just six hours from running out of gas in March"

Is this analysis correct?

The guardian is now questioning if the market in gas is working to the benefit of consumers.

"Energy suppliers held back gas during UK shortage"

"[LNG] Terminals near London and in Wales were 40% and 52% full on the day it was claimed the UK had six hours' worth of gas left"

I think there should be public debate about how commodity markets in food and energy should work at the limit; when supply cannot meet demand for whatever reason, and where some form of rationing has to come in to force to fairly distribute supplies that are left, between all consumers (rich and poor).

James Arathoon

James Arathoon
 26 May 2013 12:30 PM
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The majority of the public will only be interested when gas runs out and their supplies are cut off. However, that said the press are good at winding people up by often presenting the worst case scenario.

It's difficult to get the balance correct between maximising profits and also following an ethical/moral/fair approach at the same time......and difficult to legislate for. Take a look at what happened with MP's expenses, Banks and now with many international company tax affairs.

 29 May 2013 02:40 PM
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If we are starting to run out of gas then just imagine what will happen when we close all the coal burning stations!
However, watched a program last night on TV that claimed that Drax was being converted to a wood chip burning station. This is indeed excellent news although it did feature some rather horrified environmentalists. From the cost per unit point of view it would probably be better to continue running it on pulverized coal and keep local employment in the coal industry going.
This is important to UK as the programmer said we were thinking of importing the woodchip from the States and loose more jobs? AND note that Drax is not on the coast??

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