Wednesday, 8 January 2014

Energy price confusion by Energy Secretary

This is an unpublished letter sent to The Independent

If I understood Energy Secretary Ed Davey  correctly ("A European solution to high energy prices," Independent, 2 January 2014), if a totally integrated energy market for electricity is created by development of transcontinental connectors to deliver the power, this will lower power prices in the UK, allowing us to be more competitive with US  manufacturers. But the reason harvesting fracked  gas from shale rock formations within the UK won't lower gas prices is we have an interconnector with Europe, and thus lower fracked-gas prices in the UK would not help, as the gas is sold into an EU-wide market.(report, p9, same day) Or am I confused?

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