Why are gas prices so high and what is happening to fuel bills?

Businesses and householders face a rise in energy bills, and many energy suppliers have gone bust.

1/16/2022 10:15:00 PM

UK households will soon find out how much their gas bills are likely to increase in the coming year Why are gas prices so high?

Businesses and householders face a rise in energy bills, and many energy suppliers have gone bust.

There's been a worldwide squeeze on gas and energy supplies over the past year.As a result, wholesale gas prices have risen to unprecedented levels. At the end of December, they hit a new record of 450p per therm, which experts think could take average annual gas bills to about £2,000 next year.

Reasons for the increase include:a cold winter in Europe in 2020/21, which put pressure on supplies and, as a result, meant stored gas supplies droppeda relatively windless summer meant it was difficult to replenish those suppliesincreased demand from Asia - especially China - for liquefied natural gas

Read more: BBC News (UK) »

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Why so high, why going higher? Greed! Nothing else, they know you need it and so you are abused..but I tell you what! If one million people in any city refuse to use it, within a month they bring the prices down, people's power, GOD DAM USE IT.or shut up and pay This is about making fossil fuel so expensive you have no choice but to invest in greener alternatives, or they would be keeping the price caps that have been used previously

I see nothing wrong with our gas prices a great encouragement to conserve😊😊 Get a pay meter. £20 lasts me nearly 2 months and your in control of what you pay . Bills are sky high nowadays They get rid of a higher court, then take away your right to protest, they silence the press and then lie repeatedly to keep control ........ Nazi Germany 1939 .....

Thatcher started it You Reap What You Sow Well at least we know the BBCs isn’t 🤣🤣🤣🤣🤣👍👍👍👍 Gave the Russians leeway Because Boris & chums would like everyone to buy into electrical power for just about everything; but only through select companies. (paymasters orders!) Time to phone the Esso Blue Dealer! 🤨

Η ζωή σας μπορεί να αλλάει μόνο με τις δικές σας προσπάθειες. - Ξέρξης Cold winter in Europe 😂

Why Harry is taking UK government to court over protection costsAnalysis: Prince believes his family – as well as Britain’s reputation - is at risk while they are in the UK If--private citizen--Harry Windsor can hire the police, why can't *all* of us? Oh wait, we *already* pay them thru taxation! Something Harry, like the rest of his family, are unfamiliar with... TaxTheRich I'm sick of him

Tell sid Alfa _ Delta _ Omicron _ Lambda _ Flurna : ADOLF _ These are severe species of corona ADOLF : a male given name: from Germanic words meaning “noble” and “wolf.” Third world war Greed You were lied to , surprise surprise Oooh I can't wait!!❤❤❤ Brexit. Next question. Maybe mention about the huge profits the energy companies have made in past few years and why ofgem didn’t ensure that they have better financial reserves so that they could take part of the hit but of course it will be the just managing that are screwed

Because it's running out. 11 ways to stop money worries in 2022 Read it here Also...why is petrol so high?

Why People of Color Are More Likely to Die in Accidents Like the Bronx Apartment Fire'Statistically, the people who typically die as a result of accidents, including fires, are disproportionately people of color,' writes JosiahBates JosiahBates Cuz nobody cares...for decades....🤦🏿‍♂️ JosiahBates Care to elaborate more ? JosiahBates That was a given, no study required for that conclusion 😂😂😂😂😂🤟✌️

prices already gone up. World needs a social study, to find how people can survive with this hyperinflation. I believe those channel immigrants are idiots, Here the situation is that UK may face emigration as there are better places in the world to live happily with less cost

Why Sherlock never recovered from surviving his own death, 10 years onThe 2012 episode, which aired 10 years ago this weekend, became one of the most talked-about cliffhangers in TV history, writes Michael Hogan. But while Sherlock survived ‘The Reichnbach Fall’, the show didn’t 23 Y traed el becerro gordo y matadlo, y comamos y hagamos fiesta; 24 porque este mi hijo muerto era, y ha revivido; se había perdido, y es hallado. Y comenzaron a regocijarse.

I’m a gynaecologist and here are the 7 common reasons why sex might be painfulSEX should be an enjoyable experience, but for some people it can be painful. While you might feel embarrassed to go to your GP and talk about issues that occur beneath the sheets, it’s nothi… 8..Fecking marriage, after which most women cannot be arsed.🤮

Opinion: The Met is only investigating a Black man’s lockdown party – why?As concerns of institutional racism continue to plague the police force, questions have been raised around its decision to investigate Shaun Bailey’s party – yet none of his white political colleagues Because it's racist obviously... Duh! The only civil servant sacked is a woman - again, why? JohnsonOut For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to him Arnoldnike93 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️

Why Paul Thomas Anderson’s Licorice Pizza is an anti-love love storyPaul Thomas Anderson’s new film is not a salacious story about a power-imbalanced relationship, or even romantic love, at all, writes Katie Driscoll. It’s about the exhilaration of losing and then finding yourself Spot on

Why have prices been rising? There's been a worldwide squeeze on gas and energy supplies over the past year. As a result, wholesale gas prices have risen to unprecedented levels. At the end of December, they hit a new record of 450p per therm, which experts think could take average annual gas bills to about £2,000 next year. Reasons for the increase include: a cold winter in Europe in 2020/21, which put pressure on supplies and, as a result, meant stored gas supplies dropped a relatively windless summer meant it was difficult to replenish those supplies increased demand from Asia - especially China - for liquefied natural gas There are a number of technical and geopolitical issues at play as well, which mean many countries across Europe are grappling with the same problems. However, the UK is hit relatively hard-hit because it is one of Europe's biggest users of natural gas. Around 85% of homes have gas central heating, and it also generates a third of the country's electricity. Storage capacity in the UK is also lower than in some other European countries. Image source, AFP What effect has this had in the UK so far? Since wholesale gas prices started to spike, more than 20 retail energy suppliers have collapsed in the UK. This is largely because the energy price cap prevented retailers from passing on higher wholesale prices to their customers. Several smaller companies, with fewer reserves, could not weather this. Failed firms include Bulb Energy, with 1.7 million customers. Because of its size, it was put into "special administration" , and is now run by the government, through Ofgem. Nearly four million customers have been affected. Many households saw their energy prices rise when their supplier went bust, and they were switched over to a more expensive deal with another supplier. Can the government intervene to keep prices lower? The government faces calls from energy companies, the opposition, to do more to prevent prices from rising too much. Suggestions include: