Gas & Electricity

[MargaretR]

It looks likely that gas prices will go up again soon due to the uncontrollable leak in the North Sea rig.

UK prompt gas rises on North Sea field shutdown - Finance News - London South East

[Less]

Gas prices are overdue to go up, we have had 5 days of sunshine thus reducing the demand for gas, leaving them with a glut & storage costs. These things are passed on to the consumer.

We are lucky though, we could have had 5 days of bitter cold causing a greater demand for gas, which in turn would have meant the companies having to buy more gas just as demand is really high forcing the price to the consumer up.

[Neil]

Originally Posted by MargaretR

It looks likely that gas prices will go up again soon due to the uncontrollable leak in the North Sea rig.

Where did it say its uncontrollable?
It says they have shut down, presumably to fix the leak.

[MargaretR]

Originally Posted by Neil

Where did it say its uncontrollable?
It says they have shut down, presumably to fix the leak.

Elgin-Franklin hub was producing 10% of UK's gas before leak | News | Aberdeen | STV
"It is thought to be the first incident of its kind in the North Sea with no clear indication of how quickly it can be resolved."

[Neil]

It does not say it is still leaking though.

[MargaretR]

Originally Posted by Neil

It does not say it is still leaking though.

Must I do all the googling for you?
P&J Energy
"OIL giant Total has confirmed that a major gas leak on one of its North Sea platforms could go on for months and admitted there is a risk of explosion."

"Concerns have been expressed that the oil giant may never be able to find a solution to stemming the leak, which will take the “world’s greatest mechanical engineers” to fix."

[Neil]

You are right Margaret that it is out of control, just been reading about it before in FT before I read your link. It looks like it could end up very nasty. Can't post a link sorry because you need to register to read it.