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< Eon and EDF complete asset swaps in France and Germany | Second dark night for powerless in Surrey >
Record gas demand expected as National Grid issues second alert this week
National Grid has issued its second Gas Balancing Alert (GBA) in the space of 48 hours with demand expected to reach a record daily high of 454 million cubic metres, 5mcm more than the previous record four years ago to the day.
Continuing high levels of demand for heating because of the cold snap plus more technical problems affecting some Norwegian supplies prompted the GBA.
Interruptible contracts in the East Midlands and North West England have been an element of the sector's demand-side response.
National Grid reported that the gas market was quick to respond to the alert. Additional supplies are now coming in from liquefied natural gas (LNG) terminals and from storage. Supplies from Norway via the Langeled pipeline have now been restored.
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As demand for gas hit record levels this week what does the National Grid's gas balancing alert (GBA) mean for UK businesses?
Put simply there is no shortage; the system is working as it was intended to. Technical problems with the Langeled pipeline, which pumps gas from Norway, led to a temporary shortfall but this certainly does not mean that gas is running out. We have lots of gas from many different sources, so there is a high level of security.
The fallout from the GBA for businesses was minimal. Many factories can use oil instead of gas, usually gas is cheaper but, for the time being, gas is expensive and it makes sense for them to use oil instead. In some cases it also helps National Grid move gas around the country, and in those cases National Grid pays the factories to make the switch.
Dr Boaz Moselle, a director at economic and finance consultancy LECG and former Managing Director re | 08 January 2010, 04:38 PM