Energy News – 21/01/2017
The week of Donald Trump’s inauguration has seen shaky energy markets, a landmark Brexit speech by Theresa M...Read More
Since 2005 electricity suppliers have had to disclose details of the mix of fuels used to generate the electricity they supply. This enables customers to make an informed decision when choosing their business electricity supplier. But it also offers a fascinating insight into where our power comes from.
Unusually, gas use fell for British Gas because its owner, Centrica, has a number of offshore gas fields. So it would be expected that gas use would be higher. Back in 2010–11 gas made up 57% of the company’s fuel mix.
But in August last year, Centrica’s chief executive Sam Laidlaw said UK oil and gas production had fallen by 38% in three years and that by 2020 the UK would rely on imports for 70% of the country’s gas.
The company signed a 20-year deal with an American company to export Liquefied Natural Gas (LNG) from Louisiana starting in 2018. Centrica has also invested in shale gas projects in the UK. Shale gas is extracted using the controversial process of fracking.
Fracking and LNG are two developments that are hoped to lower the price of energy for UK businesses.
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