Analysts have warned that a disruption in maintenance schedules on Norway's gas platforms and pipelines could mean that Europe is facing a massive shortfall of natural gas this winter - with a predicted shortfall of 66m cubic meters a day according to Rystad Energy.

And to put things into perspective, this roughly accounts for around a third of the UK's daily consumption.

With cold temperature expected to hit the UK and Europe in the coming weeks and months ahead too, naturally this will lead to a surge in gas demand as we all look to heat our homes and businesses.

The longer the shortages persist, it could mean higher prices for consumers, and ultimately could affect the decision making process when the next UK price cap is determined.

Such problems could be also be compounded by the Ukraine conflict.

Rystad said in a statement: “Claimed Russian advances in the Kursk region have moved within 10km of the Sudzha gas compressor station, adding to the risk of damage and supply disruptions."

Source: You can read the full article online at The Telegraph.

The Honest Opinion

"With cold weather fast approaching and ongoing concerns around UK gas storage levels, being prepared and aware of the current market is vital for businesses. At Honest Utility Group these factors and the impact they can have on a business’s expenditure are discussed. We believe in providing insights to our customers no matter the climate and allowing them to weigh up the pros and cons of when to secure their energy to best deal with the market turbulence."

- Arran Quinn, Corporate Account Manager and Energy Consultant at Honest Utility Group

At Honest Utility Group our team will look help you secure the best available rates and terms on your energy contracts. You can reach our team by phone on 0191 7208 238 or by email at info@honestltd.co.uk