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2021 United Kingdom gas/petrol crisis

Muhammed45

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2021 United Kingdom gas crisis


The 2021 United Kingdom gas crisis is an ongoing fuel crisis which began in August 2021 in response to rising wholesale import prices of natural gas in the United Kingdom, and a shortage of stockpiled gas supplies in the country. Household gas supply companies were unable to significantly raise the prices they charged consumers for their gas supply due their sale of domestic fixed price contracts and the existence of legal restrictions on the maximum annual charge for household gas tariffs; as a result, beginning in September 2021, many smaller gas supply companies went out of business due to the rising gas costs sending them into bankruptcy, leaving customers to be reallocated to new gas companies at higher prices by the Office of Gas and Electricity Markets mechanism.
Political commentators have compared the ongoing gas crisis to the Three-Day Week and Winter of Discontent crises of the 1970s and warned that customers may be left without a gas supply entirely over the winter of 2021–2022 if the situation continues or worsens, allegations which the government have consistently denied.
Causes of the crisis
The primary cause of the gas crisis has been a surge in the wholesale price of natural gas, a significant portion of which in the United Kingdom is imported from neighbouring countries such as Norway and the Netherlands, and further afield in Qatar, Russia and the United States. Gas prices rose by 250% between January and September 2021, with a 70% rise in the month of August alone.[1] The price increase was caused by a global surge in demand, including strong energy demand in Asia.[2][3]

This was compounded in the United Kingdom by an extra gas requirement for electricity generation over summer 2021 because of a series of nuclear power outages, the shutdown following a fire of the HVDC Cross-Channel interconnection bringing electricity from France, and the least windy summer since 1961 causing wind power generation to be lower than usual. Adverse weather conditions also contributed to the crisis. A cold winter in the United Kingdom during 2020–2021 resulted in more natural gas being used for central heating than usual, depleting stockpiles.[2]

Many gas companies had sold consumers fixed price tariff contracts for a fixed duration, eg a year, but had failed to fully forward hedge against future wholesale gas price rises, so were facing large losses on these fixed price contracts. Additionally legal restrictions on the maximum ordinary tariff gas companies are allowed to charge consumers meant that this price rise was unable to be entirely passed on to these customers. Many smaller supply companies went bankrupt as a result.[1][4]



Companies affected

As of 22 September 2021, seven gas supply companies have ceased trading as a direct result of the ongoing gas crisis, affecting more than one million customers. According to industry analysts, at least 35 further supply companies are thought to be at risk of collapse.[5]

Two energy companies ceased trading on 22 September. These were Green Supplier Limited and Avro Energy; the latter were the largest supplier to cease trading to date, affecting around 580,000 customers.[6] The collapse of Green Supplier Limited affected a further 255,000 customers, with the two companies together having a 2.9% share of the market.[5]

Energy companies that have gone bust:

  1. HUB Energy - 9 August 2021
  2. MoneyPlus Energy - 7 September 2021
  3. PFP Energy - 7 September 2021
  4. People's Energy - 14 September 2021
  5. Utility Point - 14 September 2021
  6. Green Supplier Limited - 22 September 2021
  7. Avro Energy - 22 September 2021


Other impacts


Two bags of Sulphur CF fertiliser
As a result of the gas shortage, CF Fertilisers shut down production at their factories. The production of carbon dioxide is a byproduct of the fertiliser production process, and CF Fertilisers were also one of the largest commercial carbon dioxide producers in the country; as a result, the shutdown led to a shortage of carbon dioxide commercially, causing food prices to rise. On 21 September, the government signed a deal with CF Fertilisers to recommence production and reintroduce carbon dioxide to their supply chain; however, it is only a short-term emergency deal to cover the next three weeks.[7]

Sources and References

  1. ^ a b Choi, Chris. "Why are gas prices surging and what happens if your energy firm goes bust?". ITV News. Retrieved 22 September 2021.
  2. ^ a b Ambrose, Jillian (19 September 2021). "UK energy market crisis: what caused it and how does it affect my bills?". The Observer. Retrieved 24 September 2021.
  3. ^ Valle, Sabrina (10 September 2021). "Asian spot prices hit all-time seasonal high". Reuters. Retrieved 24 September 2021.
  4. ^ Morales, Alex; Morison, Rachel; Mathis, Will (20 September 2021). "U.K. Won't Bail Out Failed Companies Amid Crisis: Power Update". Bloomberg. Retrieved 24 September 2021.
  5. ^ a b Wiener, Libby (22 September 2021). "Green and Avro energy: Two more providers go bust amid surging gas prices". ITV News. Retrieved 22 September 2021.
  6. ^ Millard, Rachel (24 September 2021). "Collapsed Avro Energy paid directors £2.2m despite £28m loss". The Daily Telegraph. Retrieved 24 September 2021.
  7. ^ Younger, Rachel. "Food prices rising over CO2 shortage as supply deal covers just three weeks". ITV News. Retrieved 22 September 2021.
 

zectech

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anglos start hyperinflation bubbles to support growing gdp
anglos bid up prices of commodities to make money and punish China, and lower prices in banking fraud schemes that hurt farmers and honest investors
anglos don't wanna pay the fair share of the cost of those commodity price increase caused by anglo inflation - anglos have fixed prices for anglos, yet are into looting other countries resources while the people of those countries starve in poverty.

Cue in reason for cia bitcoin, bitcoin is a cia ponzi scheme where bitcoin planned to equal 100 million USD per bitcoin, when bitcoin is the one global currency, a system of haves and have nots. So anglos plan on paying 0,00000001 bitcoin for a liter of gas as each anglo has on average 0,05 bitcoin to support living on a beach with slaves and servants.

The great reset of the collapse of the dollar and replacement with bitcoin is about the defeat of China and every other non-anglo nation's rise to success and out of poverty. Which is why every non-anglo nation has to band together and defeat the great reset of bitcoin.

The great reset was supposed to happen in 2008-2012, started by the dollar collapse resulting in the new mega rich being those who held gold and silver. Since Saudi Arabia and others helped save the dollar and bitcoin was invented by cia to get gold investors into bitcoin miners and investors to save the dollar from gold pressuring a collapse of the dollar. That reset did not happen. You are going to need much work and cooperation to prevent the great reset of bitcoin if the dollar collapses, as the media is already assuming bitcoin is the replacement of the dollar.


Forbes implies if the dollar becomes less stable than bitcoin, then bitcoin could be the new global currency:


As Forbes and other oligarchs are anti-gold. So bitcoin is gonna be the global currency by default.
 
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313ghazi

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koolio

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Situation in UK is pathetic, its more like a third world country, there has been no availability for fuel at least for a few days now and where there is fuel at stations it dries out really quick due to excessive panic buying.
 

Path-Finder

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HEHE, I saw people getting antsy. but the cherry on top is bloody foreigners are coming to drive trucks, pick fruits/veg and run henhouse's.
 

Muhammed45

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UK fuel prices hit eight-year high as petrol stations run dry

Average price of litre of petrol rises from 135.9p on Friday to 136.6p on Sunday, with further jump expected
Out of use signs on fuel pumps

Motorists have been scrambling to fill their vehicles amid concerns about the supply of fuel to forecourts. Photograph: Neil Hall/EPA



Pump prices for fuel in the UK have reached their highest level in eight years as petrol stations run dry amid panic buying, with a further jump expected as wholesale energy costs continue to surge.
Figures from the RAC show the average price of a litre of petrol rose from 135.9p on Friday to 136.6p on Sunday, the highest level since September 2013, as motorists scrambled to fill up their vehicles.

Figures from Experian Catalist show average diesel prices rose from 138.0p a litre on Friday to 138.6p on Sunday. However, the AA said drivers and businesses would be hurt most by a 5p rise in the wholesale price of diesel since early September.

Out of use signs have been installed on some empty petrol and diesel pumps in Berkshire on Monday morning.
Health workers should be given priority access to fuel in UK, says senior doctor
Read more

As queues continued to form at forecourts on Monday after a chaotic weekend, the motoring group warned that prices could rise further this autumn as the global oil price soars to its highest level in three years.
It said some retailers had also taken advantage of panic-buying by ramping up prices, but reiterated there was no shortage of fuel at refineries and called on motorists only to buy what they immediately needed.
“When it comes to pump prices, it is a pretty bleak picture for drivers. With the cost of oil rising and now near a three-year high, wholesale prices are being forced up, which means retailers are paying more than they were just a few days ago for the same amount of fuel,” said Simon Williams, the RAC’s fuel spokesperson.
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“We might yet see higher forecourt prices in the coming days, irrespective of the current supply problem.”
Oil prices on the global energy markets rose for a fifth straight day on Monday, with the price of Brent crude hitting almost $80 (£58) a barrel, the highest since October 2018, amid supply concerns and rising demand across a world emerging from lockdown.
It comes as the government faces pressure over its management of the economy, with households braced for a difficult winter of rising living costs as ministers prepare to cut universal credit benefits and increase national insurance contributions.
Labour said the combined effects of the energy crisis, benefit cuts and tax rises had caused a “perfect storm” that would disproportionately hurt working families. Jonathan Reynolds, the shadow work and pensions secretary, said: “It is not too late for the government to change course, cancel their cut to universal credit and back struggling families this winter.”
Major fuel retailers, including BP, Shell and Esso, issued a statement on Monday evening suggesting queues at forecourts were likely to ease now most people had filled their tanks and urged the public to return to normal fuel-buying patterns.
“There is plenty of fuel at UK refineries and terminals, and as an industry we are working closely with the government to help ensure fuel is available to be delivered to stations across the country,” they said.
“As many cars are now holding more fuel than usual, we expect that demand will return to its normal levels in the coming days, easing pressures on fuel station forecourts. We would encourage everyone to buy fuel as they usually would.”
Hoyer, which delivers petrol for BP, also urged motorists to stop panic buying. The German-owned company said: “We are 100% focused on our delivery operations and deliveries are getting through nationwide.
“However, as long as people continue to buy or store fuel that they don’t need then it will be difficult to replenish sites. We once again urge people to calm down, fuel up when they need to and the situation will then be able to recover.”

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Figures from HSBC UK suggested Friday was the busiest day for spending at petrol stations in recent memory. Payments increased by 50% from the same day a week earlier, according to the bank’s data, with consumers spending just over £30 on average compared with just over £20 for a normal Friday.
Economists said rising petrol prices would add to inflationary pressures, while persistent shortages could knock consumer confidence and drag down economic activity if households and businesses started to restrict their travel.
The Bank of England warned last week that higher energy costs would push inflation above 4% this winter, with the gauge for the cost of living expected to remain at persistently high levels until at least the middle of next year.
George Buckley, an economist at the Japanese bank Nomura, said: “We remain concerned about the risk that higher energy prices, lower confidence, and rising virus case numbers could yet scupper the nascent [UK] economic recovery.”
 

Clutch

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Angry White males complain about privileges being lost and the 3rd world people talking their jobs.... But they don't want to do those jobs themselves...

They just want their White privilege cheques from the government...

Hence the fuel crisis....
 
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UKBengali

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I had been grounded in my car this Tuesday and Wednesday and missed a day of work due to lack of fuel.

Fortunately, I managed to get 3/4 of a tank of fuel very early this morning(6-7am) after a 40 minute wait to get into a petrol station with unleaded petrol available.

As I physically travel to work only 2-3 days a week, this is enough for 2 weeks for me and so think I will be fine going forward.
 

Keysersoze

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Situation in UK is pathetic, its more like a third world country, there has been no availability for fuel at least for a few days now and where there is fuel at stations it dries out really quick due to excessive panic buying.
The fuel is available. Just not the drivers to delivery it. the situation was made worse by morons panic buying (Because they are morons) and emptying the pumps before they can get refilled.
 

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