Comment seen on the SKWAWKBOX

Dave Hansell

17/01/2022 AT 3:24 PM

The rise in energy prices and the resulting financial impact on households in the UK and across Europe is purely down to deliberate political choices.

Coming into the present winter period both the UK and EU gas reserve stock’s were at all time lows:

With the move to Just in Time supply which has brought this about being only the surface problem.

Most households try to be sensible and go for long term deals in which supply is provided at a set price over say one or two years. Problem is, suppliers across both the EU and UK energy markets have to rely on what is referred to as the ‘spot market’ as a direct result of deliberate political choices made by the EU and the UK.

This has seen massive price rises for future – a month or two hence – supply contracts with spot market prices in October 2021 600% higher than a year previous and one 24 hour period in which UK wholesale prices rose 37%. Subsequent price rises reached over $2,000 per 1,000 cubic meters.

This has implications beyond household energy bills with knock on effects on food prices and supply chains.

Any competent research will demonstrate that all existing contracts for gas from Eurasia have been honoured to the letter. It’s just that Europe and the UK have not been doing the sensible thing and renewing those contracts on the usual longer term basis. Preferring to gaslight citizens by blaming the Russians.

The reality is that these political decisions are being made to satisfy US geo-political and commercial goals. Forcing compliant EU and UK politicians into decisions which deny cheap and stable gas prices from Eurasia in favour of more expensive LNG supplies from the US and its corporate lobbyists.

LNG that is produced by fracking. A situation in which so called ‘Greens’ in the ruling German Government prefer expensive fracked energy from the US to anything coming from Eurasia.

Next time you’re struggling to pay your energy bills just remember, this is down to UK and EU politicians of all parties doing the bidding of their US handlers at the expense of their own citizens.