Energy Minister Charles Hendry has attempted to quell fears over Britain’s energy security after the parliamentary watchdog warned that our gas storage capacity was dangerously low.
The Energy Select Committee said that DECC needed to put out more incentive to investors to choose gas storage. Their report revealed that the UK currently has 14 days worth of gas storage.
The Minister responded: “Energy security is right at the heart of the coalition’s energy policy. We have consented proposals for gas storage facilities that more than double our capacity and have legislated to give Ofgem the power to incentivise the gas market to ensure secure supply.”
If the gas storage doubles in line with the committee’s figures this would take us to around 30 days’ worth of gas, compared with France which has 87 days worth of gas storage, or Germany’s 69.