22/03/2013

Pipeline Closure Causes Gas Prices To Hit Record High

UK wholesale gas prices have jumped by more than 50%, a new record high, following the closure of a pipeline between Britain and Belgium.

A technical fault caused the pipeline to unexpectedly shut down.

However, the operator of the pipeline has said that while they are unable to flow gas, "The fault has been identified and we are seeking to rectify the problem."

Weeks of unseasonably cold weather has put the UK gas market under strain, with forecasts out on Thursday suggesting Britain's supplies could run out next month.

The possibly shortage is forcing the nation to pay higher prices for fuel from elsewhere.

(H)


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