Ofgem to look into long-term security of UK gas supplies

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The government has commissioned energy industry regulator, Ofgem, to investigate the long-term future of the United Kingdom's gas supplies, according to an article published by the Telegraph.

Concern has risen in the past few months following rising prices from energy suppliers and, as a result Ofgem has been asked to determine whether "further action is needed to ensure that medium-to-long-term gas supplies for consumers remain secure."

The North Sea reserves have become depleted, which has severely limited the amount of gas production in the United Kingdom, leading to supplies having to be imported from elsewhere.

Ofgem has already forecast that by 2020, the amount of gas brought from suppliers in the United Kingdom will stand at around 20 per cent - compared to just over 50 per cent which is produced now.

Meanwhile, energy secretary, Chris Huhne had stated that gas will become even more important in the future.

He said: "As our old coal and nuclear power stations shut down, gas can provide flexible and reliable backup electricity to complement the next generation of renewable and nuclear energy."

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