UK gas prices have fallen

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Gas prices in the UK have fallen following a 20 per cent drop in demand, it has been claimed.

According to Reuters, the continuing hot weather is seriously affecting the wholesale gas market and the new Aldbrough gas storage facility has done little to help the situation.

One trader told the news website: "The new storage had no effect on prices, and it's already been badly delayed."

They added: "There's plenty of gas around, people are now optimising for the winter."

According to recent figures from the National Grid, demand for gas is likely to fall to just 176 million cubic metres – down from a seasonal average of 219 million cubic metres.

Meanwhile, Centrica has announced that only one of its gas compressors at Britain's Rough gas storage facility was in operation yesterday.

The firm said that at present the storage facility is around 86 per cent full.

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