Gas prices hit a five-year high, just a day after three more suppliers go bust – CityAM : CityAM
Gas prices have hit a five-year high today, a day after the UK’s gas crisis pushed three more suppliers to collapse.
UK contracts for next month rose above 238p per therm, while wider European natural gas and power prices also touched new records.
It comes as Rishi Sunak is set to announce £500m in grants to help the country’s poorest during the current cost of living crisis the UK is facing – which has been inflated by climbing gas prices globally.
Wholesale prices of gas have risen steadily since February this year, which has left a number of suppliers battling to keep their heads above water.
More to follow.
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