U.K. Energy Users Have a Taste of Brexit and They Don’t Like It
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Natural gas burns on a kitchen stove in Hornchurch, U.K., on Tuesday, Dec. 4, 2012. The regulatory investigation into alleged manipulation in the U.K. gas market, Europe's biggest, may fail to undermine a price-setting system that relies on daily conversations between journalists and traders.
Photographer: Simon Dawson/BloombergBritain is getting a preview of what some energy bills might be like after Brexit. And it’s not popular.
While negotiations on the U.K.’s exit from the European Union have stalled, natural gas prices had the biggest summer rally in three years thanks to dwindling domestic supply and the planned shutdown of the country’s biggest storage facility. Industrial-scale consumers paying millions of pounds for energy are seeking reassurance that Brexit won’t make it worse, as the plunge in the pound has already boosted import costs.