Rupert Jones – The Guardian Sept 5, 2022
Analysts are expecting gas prices to surge to record highs this week after Russia shut down a key pipeline to Europe.
At the same time, a growing number of UK manufacturers have said they are already cutting production or making job cuts as a direct result of “out of control” energy bills.
Many commentators warned that European prices, which have risen by nearly 400% over the past year owing to lower gas flows from Russia, would go up further when markets open on Monday after Moscow scrapped a Saturday deadline for flows to resume through the Nord Stream 1 pipeline to Germany, saying it had discovered a fault during maintenance.
Nathan Piper, an oil and gas analyst at Investec, said: “We are expecting record gas prices across UK/Europe next week as the impact of long-term restrictions of Russia gas supply is absorbed by the market following the indefinite shutdown of the Nord Stream 1 pipeline.”
He added that the gas price “will remain volatile, and I’d expect a sharp move up tomorrow towards record 700-800p a therm highs.
“However, the key and worrying point is that this is in the middle of summer – prices could move higher as demand increases for heating into winter … A big price jump next week has major implications on the [UK] energy price cap, and the cost for business/industry, who don’t have a price cap at all.”
Tom Marzec-Manser, head of gas analytics at consultancy ICIS, said UK, European and global gas prices were expected to “rally hard” on Monday as markets readjusted to this latest development.
However, his colleague Andreas Schroeder, head of energy analytics at the consultancy, said the impact on the UK “will be less severe than on continental European markets”.
In Britain, it was the case that about 4% of gas and 8% of oil was coming from Russia. However, it was confirmed a few days ago that Britain is importing no energy from Russia for the first time on record after trade between the two countries collapsed after the invasion of Ukraine.
While this means that the UK is in a different situation from highly dependent countries such as Germany, European wholesale markets have a significant knock-on effect on prices paid in Britain. “UK prices are tied to European continental markets to some extent,” said Schroeder.
European leaders have accused Russia of weaponising energy supplies around the invasion of Ukraine, while Moscow blames western sanctions and technical issues for supply disruption.
I can’t wait to see the faces of all of those smug cretins here who didn’t prepare for a hard winter but instead updated their bloated, oversized and overpriced bangers and indulged themselves expensive foreign holidays and sanctimoniously ( and unbelievably ) took so called “Ukrainian refugees” into their homes. LOL
If there is one thing the complacent and stupefied Irish need is a good kick up the you know what.
I prepared for power cuts as part of my prepping, including torches that can be charged by solar power, a wind-up radio, two solar power-banks and solid/liquid/gel fuels for camping stoves. If I must use the stoves I’ll use them atop the cooker beneath the smoke hood so it should disperse the soot a bit better.
Prepping came in handy as I have a lot of long shelf-life foods. After buying all I needed for bugging out (far more than I can ever carry so I put three caches out in the woods), I decided to buy preps for the flat. Food mostly, but other household needs too. I could have a bit in the bank but because any savings could be wiped out in a bail-in or currency collapse I thought they can’t bail-in my preps. They’re mine alone.
I do not understand why Vlad did not turn the energy valve off sooner. The Satanic Jews behind the Ukraine nightmare can print paper money, but they can not print gas or oil. By the way, the Jew overthrow of Yanukovych in 2014 was to regain the Khazar ancestral lands between the Caspian and Black Seas.
How convenient that the energy/economic policies of the WEF are all being advanced/achieved after Schwab’s WEF Commie agent (Putin) invaded Ukraine…lol
Thesis (NATO/Ukraine) Antithesis (Soviet Russia/China) Synthesis (WEF Great Reset/Agenda 2030/Whiteocide)
If this isn’t by design, then I suppose it plays into the hands of the globalists only by accident. Once again, I get the feeling that this whole thing is a charade…leading us ever more deeply and irrevocably to the New World Order. By this I mean of course that perhaps the leadership of Russia and China are in cahoots with skeze balls like Biden.
The Russians have obviously had enough. If the West won’t stop arming the Ukes and otherwise attacking Russia, then it will face total collapse.
In theory, once Western politicians understand that they face a very real threat of ending up hanging on lamposts, they will deal. Unfortunately, most are crazies or so completely controlled by the US that they may never stop.
I wish that europa freezes to death
so that the afroislamo invaders see
an incentive to return freely to their
homelands !
and in meantime we should kill all the
lefties, antifas, greens + jews + christians
who want keep them + import newones in
springtime .
@antivax…don’t worry about it..the ‘afro-islamo invaders’ will have white women to keep them warm…lol
> I can’t wait to see the faces of all of those smug cretins here who didn’t prepare for a hard winter but instead updated their bloated, oversized and overpriced bangers and indulged themselves expensive foreign holidays
It won’t make any difference to them. It’s the poor that will suffer. The rich will just pay, because they have huge piles of cash. Oh, and child benefit.
> After buying all I needed for bugging out (far more than I can ever carry so I put three caches out in the woods)
I’d really like to talk face to face with one of you guys. I’d like you to explain how on earth you think you’ll survive out in the woods with your wind up life and a tin opener, not to mention how you think you’ll stop everyone else taking your piles of rice when whatever you think is going to happen happens. But more than anything, I’d like to see that spark of madness that must be in your eye.
WEF stooge Putin will have engineered civil unrest in EU countries that Russia has denied heating fuels.
He can sit back and watch this inevitable shitshow from sidelines and effectively conquer Europe without having fired a shot.