Gas prices continue their decline

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British gas prices have continued their fall as warmer weather reduces demand.

The price of gas fell from 44 pence per therm last week to just 39 pence on Monday.

According to Reuters, the price fall is abnormal for this time of year and was compounded by the restarting of Heysham Nuclear Power station's 1-1 reactor over the weekend – leaving just two British reactors offline.

The restarting of the Heysham reactor has also pushed the price of electricity down, the news provider states, with prices per megawatt hour falling to £39.25 from £44.50 during the same period.

Gas futures also took a hit over the weekend, with Summer 2009 contracts losing 3.5 pence per therm.

In related news, coal is still responsible for the majority of power generation in the UK, with nuclear contributing 17 per cent and wind farms adding just 0.6 per cent to the National Grid's electricity supply.

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