The National Grid has just published its Winter Outlook Report, stating that it is confident the UK’s diverse and flexible supply sources will be sufficient to meet gas and power demand this winter. Whether that lasts will depend in part on the UK government’s strategy for leaving the EU. Its decision to trigger Article 50 by the end of March 2017 has increased fears of a ‘hard Brexit’, rather than a ‘soft Brexit’ in which the UK would remain part of the single market.
There are four main drivers of UK gas supply: the level of North Sea production; the amount of gas available from the Continent; LNG imports; and the level of gas in storage.
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