How can the UK run short of gas?
Despite the fact that the UK government has rushed to allay fears that UK gas supplies are in danger, we are set to see further companies suffer as prices continue to rise and supplies continue to fall. Only yesterday we saw 94 companies in the North West and Midlands have their gas supplies cut off due to a massive spike in the price of gas and ever growing concerns about Norwegian supplies. So how can the UK run short of gas?
While the authorities may well have you believe that gas cuts over the last few days are "one-offs" there is no doubt that experts fear more similar actions in the days and weeks ahead. The UK is currently in one of the coldest periods in living history with temperatures reaching -21°C in some areas of the country. Against this backdrop it is inevitable that domestic gas demand will increase, industries will require more gas and the UK will have to fight tooth and nail with other countries to secure supplies.
There are also fears that short-term price rises could filter through into the consumer and business markets crippling many people and businesses who are already struggling to cover their monthly bills.
Share this..
Related stories
What are the MPs scared of?
The MPs expenses scandal is sure to be with us right up until the next general election and despite attempts by Gordon Brown to gain the higher ground, David Cameron has most certainly benefited more than any other party leader from his no-nonsense approach. Gordon Brown would appear to be under intense pressure from those within the Labour Party and despite his attempts to paper over the cracks o...
Read MoreWill this be the end of the banking sector crisis?
As more and more experts put their heads above the parapet there is a suggestion that a £200 billion rescue package for the UK banking sector should inject enough confidence to end the current problems. However, those who expect the UK banking sector to bounce back in a matter of days may well be disappointed as it will take time for the additional funding to filter through and the banks to incre...
Read MoreHMRC confirms problem with online tax system
HM Revenue and Customs (HMRC) has today stepped forward to confirm that an error on the online taxation website could lead to many UK taxpayers assuming their taxes have been sorted when this may not be the case. The situation relates to taxpayers who owe less than £2000 on their 2007/08 tax bill but are given the option to have their tax collected from PAYE during the 2008/09 tax year.
The cost of running a home falls by 17%
As more and more people in the UK continue to suffer financially it has been revealed that the cost of running a home in the country has fallen by 17% over the last 12 months. A Halifax report has suggested the cost of running the average home in the UK fell from £8800 to £7300 between 2008 and 2009. This £1500 reduction is significant although unfortunately it does appear to be a different sto...
Read MoreCan we really depend on the state for future pensions?
The pension industry has never been far from the headlines over the last 10 years as the situation has changed dramatically to the detriment of UK consumers. Only recently we have seen dozens of final salary pension schemes biting the dust and tax changes which have again hit the long-term attractions of personal pensions. The fact that the UK state pension has effectively fallen in real terms ove...
Read More