What caused the UK’s energy crisis?

  • Date: 21-Sep-2021
  • Source: The Guardian
  • Sector:Oil & Gas
  • Country:Qatar
  • Who else needs to know?

What caused the UK’s energy crisis?

The UK’s energy system has been plunged into chaos by a perfect storm of market forces which threatens to rip through the economy from home energy suppliers to heavy industry, and from factories to farmers.

This has stoked fears that a wave of energy suppliers will collapse, and that households will be saddled with unaffordable bills. As the colder weather draws in, these are the factors shaping the energy crisis.

China’s appetite for energy is always a key driver of global market prices. In 2021 its post-Covid economic ramp-up has coincided with an uptick in demand across Asia and Europe too.