Gas jumps to levels not seen since 2013

UK Gas jumps 35% to highest levels since 2013

UK Gas prices have hiked again following an explosion at Austria’s main gas hub.

The explosion killed one person and injured 18 others, but emergency services have managed to bring the blaze under control.

The hub is important for European gas transit, with natural gas transported along several cross-border pipelines. Italy declared a state of emergency regarding energy supplies at the Austrian hub and their wholesale day-ahead prices surged 97% to 47 euros per megawatt-hour.

Britain fared slightly better with gas for immediate delivery soaring 35% to 92 pence per therm.