Centrica Plc increased capacity at the UK’s largest gas storage site, providing a bigger safety cushion for the coming winter that will also help keep prices in check.
After additional work, the Rough facility will be able to store up to 54 billion cubic feet of fuel, up from 30 billion previously, Britain’s biggest energy supplier said on Friday. The facility reopened last year amid the energy crisis, but at only a fifth of its previous capacity. Centrica warned that the nation is still lagging behind other major nations in its ability to store the commodity.
“The resilience of the UK’s energy system needs to be substantially improved,” chief executive Chris O’Shea said in the statement. “But to do that we need the right supportive regulatory framework.”
With an average of 12 days of gas in reserve, or 7.5 peak winter days, the UK lags behind both Germany and France, with 89 and 103 days respectively, the company said.
Centrica reiterated that it eventually plans to transform Rough into a major methane and hydrogen storage facility. It is ready to invest £2 billion but needs government support. The company has previously said negotiations with the government have made no progress since Rough opened in October.
