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Energy prices will rise, say experts (problems at UK nuclear stations)

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jpak Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-28-06 03:56 PM
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Energy prices will rise, say experts (problems at UK nuclear stations)
http://www.theherald.co.uk/news/73008.html

Problems at Britain's nuclear power stations will put pressure on energy bills and increase the risk of blackouts during any winter cold snap, a leading market analysis group warned yesterday.

Wood Mackenzie said price rises were "inevitable", given the significant reduction in Britain's power output as a result of technical problems which led to reactors at Hunterston in Ayrshire and Hinkley in Somerset being shut down earlier this month.

This will also have a knock-on effect on gas prices as British Energy, the UK's biggest power generator, responsible for eight nuclear power stations and one coal-fired plant, is forced to buy electricity on the wholesale market to fulfil its contracts, the analysts claimed.

Stewart Gray, a senior European gas and power analyst at Wood Mackenzie, said: "This will put upwards pressure on power prices and increase the call on gas-fired power plants which will also put upwards pressure on gas prices.

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"There could even potentially be risks to security of supply for both gas and power, though this would require a fairly unlikely 'worst case' combination of plant outages and cold weather."
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