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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 02:56 PM
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Energy prices will rise, say experts (problems at UK nuclear stations)

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.


"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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