UK’s Centrica Warns High Energy Bills to Last 2 Years

Power & Energy

Centrica, biggest energy supplier of the United Kingdom has said that, increasing the energy prices that has been threatening the standard of living of the millions of people in the United Kingdom can possibly last up to two years. Chris O’Shea, chief executive of Centrica said that, there had been no reason for expecting that, the prices of the gas can possibly decrease any time soon in the future.

Chris O’Shea also said that, he is hoping that, the increasing bills by more than 50 percent to around 2,000 pounds a year can possibly be short-lived or might also be misplaced, and the continuously increasing energy bills have also raised the concerns over the cost of living of the people in the United Kingdom.

The chief executive of Centrica also said that, the market have been suggesting that, the high prices of gas are going to be in the United Kingdom for the upcoming 18 months to two years, and they are now moving towards the net zero target, the gas has been a large transition fuel.

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Chris O’Shea added that, as the United Kingdom is turning off the power stations fired by coal on several other countries, and there is not an abundance of the gas that, the people of the country can possibly turn on quickly, and the idea of the re-badging of the gas as a transitional fuel other than being as a traditional hydrocarbon for the increased boosting of energy in the United Kingdom.

Sandy

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