No End To High Energy Bills Now Putin Declares 'Gas War'

Vladimir Putin waging a “gas war” on Europe will have a significant effect on UK energy prices and security, experts warn.

- Steph Spyro and Mark Reynolds

Consumers already facing another rise in the energy cap this autumn could be hit by even higher prices in the next few months.

Russian energy firm Gazprom announced it would slash gas deliveries to Europe by 80 per cent in order to carry out maintenance on a turbine on its Nord Stream 1 pipeline.

Ukraine’s President Volodymyr Zelensky has claimed this is simply “gas blackmail”.

Britain gets less than five per cent of its gas from Russia, but its prices are affected by global market fluctuations.

Dr Hafez Abdo, associate professor of accounting at Nottingham University Business School, said: “The gas war is likely to have a marked impact on the UK gas market and energy security.

“Despite the small portion of gas imports from Russia, stressing the EU market is likely to pressure our access to Norwegian gas. This would stimulate the international prices to increase further – and this is likely to increase domestic gas prices, shake UK energy security and deepen energy poverty.