SSE has cast doubt on the future of its British gas storage sites, warning that their economics were “extremely challenging” and could deteriorate further. The energy company also joined mounting calls for the government to address the future of gas storage amid concerns that consumers could be left exposed to supply shocks after the closure of Rough, Britain’s biggest storage facility. Centrica, Rough’s owner, said in June that it would permanently shut the site, a disused North Sea gasfield, because repairing its ageing infrastructure was no longer commercially viable. SSE, which owns two of the biggest remaining storage sites, in salt caverns in Yorkshire, urged ministers to provide “some clarity on the future role of gas storage”. Such storage sites across Europe are struggling to make money as the market is generally well supplied, reducing the volatility in gas prices and so limiting potential profits.
Times 17th Aug 2017 read more »
FT 16th Aug 2017 read more »
