Another consequence of the Central Area Transmission System (Cats) of the United Kingdom going down and natural gas flow being interrupted according to Patrick Heren of the Heren Report, is that Britain's measure of natural gas prices - the National Balancing Point - could become a world standard measure of natural gas prices, much like Brent Crude is for oil.
And according to Mr. Matthew Monteverde of Argus European Natural Gas, it is still too early after the CATS fiasco to assume that natural gas prices will stay low in the coming years.
"We could well be in a boom period where we have some excess supply, but then you always have to be skeptical about these kinds of things," Mr. Monteverde said.
"Demand can always be unpredictable. We don't know how chilly the winter will be. And remember that much of the gas that comes here doesn't have to. It could easily go to the Continent if that would be more profitable."
The gas price is closely linked to the oil price, and with crude close to record levels, there remains plenty of upward pressure on gas.
Likewise, British Gas owner Centrica, which has already cut prices once, has no further plans to make more cuts to domestic price plans. A spokesman said the forward prices for next winter remained relatively high.
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