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Phew, what a relief, we don't need that boring old gas storage after all! Turns out we can import and burn coal instead to tide us over any gaps in wind and gas powered electricity generation.
https://www.telegraph.co.uk/business/2021/09/06/britain-forced-fire-coal-plant-amid-record-power-prices/
The article is behind the usual pay wall but you will get the gist of it.
I do have an opinion but LSE don't offer that option, unfortunately!
Similar post on ADVFN by lindowcross from Ambrose Evans-Pritchard also at Daily Telegraph.
https://www.telegraph.co.uk/business/2021/09/05/energy-rationing-feared-russias-gas-squeeze-exposes-uks-perilously/
Makes bleak reading on just how bad the backup storage issue is in this country.
“The UK is more vulnerable to a gas supply crisis than other Western European countries. It has way too little storage and it is buying more Russian gas than it realises through the Netherlands,” said Marco Alverà, chief executive of the Italian pipeline and infrastructure group SNAM.
Not going to post the whole article as lindowcross has but it's over "there" if you want to read it.
Or subscribe to the Telegraph. :)
Glad I'm pretty much "off-grid" as regards mains gas and such.
Come on JW, I'm gonna need a bigger chainsaw. lol
Si_Derman ref 19.16post In this instance I think you are blaming the wrong person. The issue is with the Northern Ireland Executive who seem to be treating the application for a marine license like a fine malt that has to be laid and allowed to mature.
I'm not "blaming" anyone, tbh, Stokey. Just re-posting an artical in a similar vein to the OP. :)
Looking forward to another 3 day week. Recall it being great fun as a teanager back in the seventies. Parents probably wouldn't agree though, trying to work through it. Might be a good time to invest in candles. lol
As regards the ML, nobody has the cojones to be the one to say, yea or nay. They are just pass the parcel. Maybe a dire shortage with power outages might instill a bit of urgency, hey?
Whatever the hold up is right now I'm past caring tbh so I completely sold out on the last spike on Fri if you can even call it that. Lots on twitter were pumping this just for a trade quite clearly.
Spot the odd one out on the chart
https://www.linkedin.com/feed/update/activity:6840197952519110656
Very interesting oldtramp. The level of incompetence and shortsightedness of the decision makers continues to amaze me. Borderline criminal through negligence.
Loose goose remember that is the whole of Ireland not Just N.I so the EU Are also responsible.
Oldtramp, absolutely yes and the Eu haven't had a “shovel ready” proposal on their table for months and months awaiting a decision after a very lengthy consultation process. Either way you look at it reflects incompetence and negligence. I believe they will wake up and that is why I remain invested.