britain s largest energy supplier, centrica, is to reveal record profits today on the back of a surge in wholesale gas prices linked to the war in ukraine, just weeks after suspending the forced installation of prepayment meters over concerns of its treatment of vulnerable customers. many families are struggling to pay their energy bills, with a quarter losing sleep over it. centrica s boss chris o shea has been urged to waive his bonus. kathryn porter is an energy consultant and founder of watt logic. by by any one s numbers, £3 billion, it is a huge amount of money and it s going to mean a huge amount of criticism today as well from people across the board. is centrica profiteering in your view? board. is centrica profiteering in your view? no, i don t think the are in your view? no, i don t think they are profiteering, - in your view? no, i don t think they are profiteering, the - they are profiteering, the record profits are driven by its upstream business, production o
British Gas owner Centrica has released stored gas from its largest storage facility into the national grid for the first time this winter, it said on Tuesday, seeking to manage rising heating demand and contain prices.
Germany s underground gas storage caverns are over 97% full but it could still run into supply problems in the winter, storage operators group INES said on Thursday, recommending plans to reduce usage are kept on stand-by.
Europe will remain greatly exposed to global LNG market volatility, energy experts Thierry Bros and Anne-Sophie Corbeau warned in NGW’s latest In a Nutshell podcast, as it has mostly lost its previous “buffers” against supply shocks. [Gas in Transition, Volume 3, Issue 9]