Tuesday, October 10, 2006

Gas traders give it away :: BBC

Wholesale gas prices for immediate delivery turned negative on Tuesday [last week] as supplies surged in from the new Langeled pipeline from Norway.

Britain's gas storage capacity is 96% full so firms need to offload supplies.

As domestic gas bills are based on longer-term contracts, consumers will have to wait for big reductions.

After trading at an average of 26p a therm through September, the spot price for gas delivered immediately fell to -5p during the course of the day, meaning traders are paying to get rid of it.
Via Truck and Barter.


Blogger Per Your Request said...

Welcome Back.

10:27 PM  
Anonymous Antonio said...

Yes indeed, welcome back.

3:04 PM  

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