Re:More than 70% of pubs do not expect to survive winter as ...
by neilwilson on Wednesday August 24, 2022 @09:45AM
(#32579377)
The world is dependent upon LNG at the margins. The UK is a net importer and therefore the marginal price rules.
China decided to go net zero and in their usual fashion decided to do it all at once. That shoved the price up last year.
Russia is just the icing on the cake.
The hedgers who backed the wrong horse are already bust. That took out half the gas retail sector. Now everybody's one year fixed prices are expiring and the chickens are fighting for scarce roosting space.
Never a good idea to back efficiency over resilience. We're about to learn why energy and food security can't be left solely to market forces.
China decided to go net zero and in their usual fashion decided to do it all at once. That shoved the price up last year.
Russia is just the icing on the cake.
The hedgers who backed the wrong horse are already bust. That took out half the gas retail sector. Now everybody's one year fixed prices are expiring and the chickens are fighting for scarce roosting space.
Never a good idea to back efficiency over resilience. We're about to learn why energy and food security can't be left solely to market forces.