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Gas-fired power plants at high risk as gas shortage threatens UK

Posted On: Oct. 5, 2022 9:20 AM CST


The U.K.’s energy regulator Ofgem has warned that the country could experience a “gas supply emergency” as the effects of the Russia-Ukraine war and continued energy supply disruptions reverberate, City AM reported citing The Times. The situation could lead to gas supply cuts to some gas-fired power plants, preventing them from generating electricity and consequently facing contractual penalties of up to £276 million ($308 million) per day, making them susceptible to insolvency.