Government mulls reopening gas storage for winter
The government is in talks with energy firm Centrica about re-opening a giant gas storage facility in case European supplies from Russia are cut off.
Those plans also include extending the life of the few remaining coal fired power plants in the UK. Business Secretary Kwasi Kwarteng wrote to the owners EDF, Drax and Uniper in April and on Friday of last week instructed National Grid's Electricity System Operator to explore what would be needed to extend production.
There has been a glut of liquefied natural gas arriving in the UK in recent weeks as suppliers use the UK's terminals as a hub for deliveries to Europe. Tankers have been turned away as there is nowhere to store it. At the time, the government declined to subsidise the facility telling Centrica "if the market doesn't think it makes sense - neither does the government", according to a company insider.
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