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UK Grid Warns Energy Costs to Skyrocket If Russia Curbs Gas

  • European supplies could be disrupted, sending prices soaring
  • UK power system margins will shrink this year to 6.7%
Residential houses in Upminster, UK. Higher prices would put even more strain on consumer bills that are already projected to reach record levels in October before rising again in January. 

Residential houses in Upminster, UK. Higher prices would put even more strain on consumer bills that are already projected to reach record levels in October before rising again in January. 

Photographer: Chris Ratcliffe/Bloomberg
Updated on

Britain faces “knock-on impacts” for the country’s energy supplies such as rocketing prices if Russia cuts off natural gas flows to Europe, according to National Grid Plc.

Only about 6% of the UK’s gas imports come from Russia, a statistic the government has so far used to play down the risks of reduced flows to the UK energy system. The grid operator’s warning is the first time it has openly addressed the threat of Moscow’s decision to throttle fuel supplies.