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UK on the verge of energy disaster as Norway could cut power to UK due to lack of rainfall | Politics | News

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In October, energy prices in the UK are expected to rise 70%, raising the average annual cost of dual fuel, including both gas and electricity, to over £3,359. Countries across Europe have witnessed rising energy prices as wholesale prices rise, blaming Russia for this.

The UK depends on Russia for only 4% of its electricity use, but energy sources across Europe are starting to refuse to transmit energy due to rising costs. According to Norway’s Energy Minister. Terje Aasland said Norway plans to limit electricity exports because it lacks hydroelectric storage, which is used to generate 90% of its electricity supply. He told energy news site Montel: Where the reservoir fill is extremely low. “Then we must have enough electricity for national consumption.”

The UK depends on Russia for only 4% of its usage, but energy sources across Europe are starting to refuse to transmit energy due to rising costs.

According to Norway’s energy minister, electricity supply from Norway to the UK may now be disrupted due to a lack of rainfall.

Terje Aasland said Norway plans to limit electricity exports because it lacks hydroelectric storage, which is used to generate 90% of its electricity supply.

He told energy news site Montel:

“Then we need to secure enough electricity for our people to consume.”

Norway could reduce the amount of energy it sends to the UK due to ‘rain shortage’ (Image: GETTY)

Terje Aasland plans to limit electricity exports due to lack of hydroelectric storage (Image: GETTY)

About half of Britain’s gas comes from the North Sea and a third from Norway.

The reservoir level in Norway is 49.3%, which is lower than the seasonal average of 74.4%.

The undersea “interconnector” cable between Norway and the UK, completed last year at a cost of £1.4 billion, could provide enough power to 1.4 million UK homes.

National Grid previously assumed that these cables would be available when needed this winter.

Phil Hewitt of consulting firm EnAppSys spoke of The Times of Norway’s planned cuts: .”

Read more: Brexit LIVE: There are 35,000 Brits without ID on the Portugal line.

One-third of the UK’s energy comes from Norway, and 90% of its supply comes from reservoirs (Image: EXPRESS).

Cornwall Insights says its October bill could reach over £3,359 (Image: EXPRESS)

This comes after analysts at Cornwall Insights said their October bill could reach over £3,359 and remain high through 2024.

Craig Lowrey, chief consultant at Cornwall Insight, said a review of support for the next cap period should be at the top of the prime minister’s to-do list.

The limit is expected to rise again in January to £3,616 per year, Cornwall Insight said, adding that it will remain above £3,000 per year until at least 2024.

Regarding Rishi Sunak’s actions announced in May, Lowrey added:

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The cap is expected to rise again to £3,616 per year and remains high through 2024 (Image: EXPRESS)

During his tenure as prime minister, Sunak announced a £15 billion support package for households, saying each household would receive £400 energy bill credit when the price cap is raised in October.

Sunak also said that if he became a leader, he would temporarily abolish the value-added tax (VAT) on energy rates, which currently stands at 5%.

Meanwhile, Truss said he would cut the bill to less than 8% by stopping the green imposition of the bill.

Europe spurred prices up on rising wholesale costs and blamed Russia (Image: EXPRESS)

On Wednesday, Martin Lewis issued a “gloomy” warning that some fixed energy deals that look “horribly” expensive may be the best prices currently available.

Lewis wrote on his MoneySavingExpert website: “The UK energy market has collapsed. The theory was for us to profit from the competition, but there was nothing. Instead, we have high prices that are effectively enforced by regulation.

“But not because there is a big deal, but because recent analysis predicts that the future is much worse and the forecast for the next price cap will continue to rise, so there is an opportunity to take action to help, even a few months ago.

“That means some damn expensive fixes now look like winners.”

Sources

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2/ https://www.express.co.uk/news/politics/1651532/uk-energy-crisis-Norway-power-supply-Britain-EU-update

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