UK Commercial Gas Prices on the Rise - Despite the fact that this past Monday when the markets opened wholesale gas prices fell to 32.50 pence per therm ($4.970 per mmbtu). UK natural gas prices can only escalate as North Sea supplies are in decline forcing the UK to buy increasing quantities at spot rates with a diving currency.

Gas prices eased in early Friday trade helped by the returning Norwegian supply after problems were fixed at a gas processing plant.

On Friday gas prices were down 0.55 compared with day-ahead contracts in the same session, gas for immediate delivery was down 2.30 pence compared to prices on Thursday.

While UK natural gas for delivery next month rose 1.3 percent to 32.25 pence a therm, according to commercial gas broker prices compiled by Bloomberg.

According a new research published by Deloitte, North Sea drilling for oil and gas dropped to its lowest levels in six years during the first quarter of 2010.

Meanwhile the Government has decided against keeping national stocks of gas, a common practice in other European countries like Germany and Holland.

Despite concerns about the countries lack of gas storage facilities and a high dependence on foreign imports. The decision will by published in a paper that will analyse Britain’s security of gas supply.

Ruling out stockpiling national reserves of gas is a rather reluctant subject to say the least. Last year the Government’s own forecast estimated that, by 2020, gas will account for 40% of our energy needs, with 70% being imported.

In my opinion the UK needs a well structured Business Gas storage scheme to support the nation’s energy security and to meet Climate Change Bill commitments.

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1. [...] Reino Unido Comercial precios de la gasolina en alza – A pesar de que el pasado lunes, cuando los mercados se abrieron precios mayoristas del gas se redujo a 32. 50 centavos por termia ($ 4. 970 por MMBtu). Reino Unido los precios de gas natural sólo puede aumentar según los suministros del Mar del Norte están en declive obligando al Reino Unido a comprar cantidades cada vez mayores en los tipos de contado con una moneda de buceo. URL del artículo original http://www.catalyst-commercial.co.uk/blog/latest-news/commercial-gas-prices-uk/ [...]

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