Government must increase UK gas storage capacity
Summary
Gas storage capacity needs to be increased in the UK to minimise the potential damage from supply interruptions or price spikes, the report 'The UK's Energy Supply: Security or Independence?’ (HC 1065) finds.
The UK's current storage capacity amounts to only 14 days’ worth of gas supply - a dangerously low level compared to other areas of Europe as France has 87 days’ worth, Germany 69 and Italy 59.
The Energy and Climate Change Committee stresses the importance of protecting UK energy supplies against short-term shocks and long-term stresses and calls on the Government to prioritise this issue.
The Committee argues that it is the Department for Energy and Climate Change’s responsibility to produce a strategic plan for a resilient energy system.
By 2018, 19 gigawatts (GW) of ageing electricity plant will close and the UK will become increasingly reliant on energy imports as North Sea oil and gas reserves decline.
The report concludes that new electricity generation currently being built or planned will fill this gap, but it urges the Government to ensure security of supply by delivering on its energy efficiency targets, rolling out smart meters - that can balance demand - and maintaining a diverse energy mix.
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