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kzb

Future Price Of Gas

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Question: which way do you see domestic gas bills heading in the next three years?

I can't decide personally.

In some ways I can see the gas price might even come down, because they are under a lot of politcal pressure to do this at the moment. Then we have fracking, just the threat of this may cause speculators to assume reducing prices.

On the other hand we probably have pent-up soaraway inflation at the first sign of economic recovery.

Anyway, do you think it will go up or down ?

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If fracking comes online (which ultimately I think it has to) then I can only see prices remaining stable or heading downwards. There are huge reserves there and green issues are likely to be ignored when it comes to power (and it's only Blackpool after all).

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If fracking comes online (which ultimately I think it has to) then I can only see prices remaining stable or heading downwards. There are huge reserves there and green issues are likely to be ignored when it comes to power (and it's only Blackpool after all).

The anti-Fracking lot are a bit annoying..

There *are* some legitimate concerns with Fracking; disposal of waste water from the process being top of these. So we need some standards and monitoring for this. All fine. Standard issue red tape of the kind that stops telly makers putting exposed live wires round the back. Plus, to invoke a variant of goodwin, it adds to the GHG load.

Unfortunately, we also have people going on about earthquakes (Magnitude 2, 'Car door slam', RUN FOR THE HILLS), burning tapwater (only if you have a conventional gas field touching your local aquifer, not in the UK), groundwater contamination (there's a couple of kilometers of rock in the way, ffs), and, in the Mendips, a local has decided that it might trigger a volcano:

http://www.thisissomerset.co.uk/sitting-Mendip-volcano-says-Somerset-expert/story-14010082-detail/story.html

This is somerset, where you don't have a family tree, more of a fence post.

It's as bad as the anti-nuclear crowd.. we are allowed to continue doing dirty and dangerous things like mining and burning coal, driving, opening tin cans and posessing garden ponds.. but heaven forbid we do something new.

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With the speed things move in this country (or the lack of it) I'm doubtful fracking could come online within the three-year timeframe I am considering.

What's more, it seems to be generally accepted (see Newsnight the other week?) that fracking was indeed the cause of the earth tremors on the Fylde coast.

It might only take a successful damages claim, as a result of earth tremors, against the frackers, to stop it in its tracks. Who is going to insure them against something that could cause half the property owners on the Fylde to put in for thousands of pounds each every time there is a wobble?

Despite that, maybe the threat of abundant gas might cause the speculators to abandon ship, thereby reducing the price?

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I'm with the cynics on this one.

If a company offers to fix the price for you, the chances are the price is going down. Because if the company thought the price was going to rise, they wouldn't offer you the "deal", they'd be happy to charge you more.

cf fixed rate mortgages.

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