What’s Behind the Energy Shortage in the UK and Europe?

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However, the closure of coal power plants the country’s aging nuclear power plants are slowly The closure has made the UK much more dependent on gas than any other fuel for around 40 percent of the country’s electricity. (In France, by contrast, nuclear power plants provide about 70 percent of the electricity.) It didn’t help that breezes have been unusually weak in recent months, turning the UK’s wind turbines, which produce about 20 percent of the country’s average power. .

“This success in climate policy is making a comeback,” said Mr Gloystein.

The UK is not yet far enough in its transition to clean energy to avoid the pain of jumps in world gas prices.

“We don’t really have enough renewable energy right now to be really effective,” said Martin Young, a power analyst at Investec, a securities company. “Gas often sets the price.” He said the UK’s heavy taxes on carbon emissions also contributed to electricity costs.

A fire that knocked down a large cable The introduction of electric power from France added to the troubles. And unlike other European countries, the UK has not invested in gas storage facilities, instead allowing one such large facility to close in 2017.

The rising wholesale price of electricity is being passed on to homeowners, straining budgets and forcing governments to intervene. In Spain, the government said recently it would take profits from electricity generation from wind and solar to compensate consumers for higher gas prices.

Around 15 million British households have recently been affected by energy price increases in the 12 percent range as part of a government program to limit huge jumps in rates. Restricted rates are reviewed every six months; The next review in April is expected to result in a bigger jump.

Another problem homeowners are facing: Many electricity suppliers that offer low-priced deals to their customers are unable to meet their commitments at current prices. Many of these relatively small companies have collapsed in recent weeks, with an estimated 1.7 million customers’ accounts being auctioned off to more powerful companies. No one will lose power due to these business failures, but ultimately these customers will pay higher rates and companies that take over customers may incur extra charges on bill payers.

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