21.08.14 Cold war could be back

Posted on August 21, 2014
Archive : August 2014
Category : Energy News

As we head towards the forthcoming heating season, what the Russians do next is going to have a big impact on what we pay for our energy and our heat this Winter. Russia is one of the world's largest oil producers and holds the largest combined oil and gas reserves in the world. The EU imports about one third of its gas from Russia, some of it coming through the Ukraine. Although the UK doesn't import Russian gas, like the rest of the EU, it does however import Russian coal. The UK's electricity production is still heavily reliant on coal and some 45% of our coal imports are of Russian origin. In fact, DECC recently reported that there was a 21% increase in Russian imported coal in the first quarter of 2014, demonstrating that this reliance is increasing. So when Russia says that the latest US and EU sanctions will lead to higher energy prices in Europe we should believe them. Interestingly, Greenpeace wrote an enlightening article on this subject just last month entitled: Can the UK cut its reliance on gas imports and stop sending money to Russia. We think it should be subtitled: Install that wood burning stove now and secure your heating.