UK gas storage: British Gas owner Centrica says supply 'low' - will there be a reserves and supplies shortage?

• UK gas storage levels have dropped to ‘concerningly low’ levels due to freezing weather
• Centrica reports less than a week's worth of gas in storage
• Storage sites are about 20% lower than this time last year

The owner of British Gas, Centrica, has said that UK gas storage levels have dropped to “concerningly low” levels amid Britain’s recent spate of freezing temperatures.

The firm said that the country now has less than a week’s worth of demand for gas in reserve.

On Thursday (January 9), stocks at UK gas storage sites were 26% lower compared to the same time last year, leaving them approximately half full, according to the energy company.

Why are gas storage levels so low?

Gas inventory levels have been strained by cold weather and the end of Russian gas pipeline supplies through Ukraine at the end of last month.

The UK also has less capacity for energy storage compared to other European countries, making it more reliant on immediate gas supplies.

Centrica CEO Chris O’Shea described the levels as "concerningly low,” and said the transition to clean energy will require the UK to rely more on energy storage systems to meet demand.

“We are an outlier from the rest of Europe when it comes to the role of storage in our energy system and we are now seeing the implications of that.

“Energy storage is what keeps the lights on and homes warm when the sun doesn’t shine and the wind doesn’t blow, so investing in our storage capacity makes perfect economic sense. We need to think of storage as a very valuable insurance policy.”

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Centrica operates the UK's largest gas storage site, Rough, located under the North Sea off the east coast of England.

Although it was full ahead of winter, Rough’s current gas inventory is about 20% lower compared to the same time last year, according to the company.

We gas reserves run out?

The news comes as the UK experienced its coldest night of the winter so far on Thursday January 9, with more freezing temperatures anticipated in the days ahead.

The Met Office has said that Friday (January 10) will mark "the start of a change to our weather," though it is expected to make only "limited progress." Patchy rain, sleet, and snow are forecast for parts of south-west Britain.

So could gas reserves run dry?

A No 10 spokesperson said: “We are confident we will have a sufficient gas supply and electricity capacity to meet demand this winter, due to our diverse and resilient energy system.

While Centrica has stated that the UK currently has less than a week's worth of gas in storage, this refers specifically to reserves stored in facilities like Rough, not the total gas supply.

The UK also relies on continuous imports and domestic production to meet demand, so storage levels are just one part of the overall supply system.

The spokesperson continued: “We speak regularly with the national energy system operator to monitor our energy security, and ensure they have all tools at their disposal if needed to secure our supply.

They added that reports suggesting the UK has been on the brink of an energy blackout are “not true."

Do I need to do anything?

As it stands, energy customers don't need to take any immediate action. But customers can stay informed about weather conditions, and it’s always wise to be mindful of energy consumption during colder periods.

For instance, you could set your thermostat a few degrees lower and wear warm clothing to stay comfortable without using as much heat, or use weather-stripping or draft excluders around doors and windows.

You should also ensure your heating system and appliances are energy-efficient, and consider using programmable timers to only heat your home when needed.

What are your thoughts on the current gas supply situation? Do you have any tips for reducing energy usage during the winter? Share your ideas, experiences, and questions in the comments section.