Lower Than Low Gas Prices

Michael Giberson

BBC News reports:

Wholesale gas prices for immediate delivery turned negative on Tuesday as supplies surged in from the new Langeled pipeline from Norway.

Britain’s gas storage capacity is 96% full so firms need to offload supplies.

… After trading at an average of 26p a therm through September, the spot price for gas delivered immediately fell to -5p during the course of the day, meaning traders are paying to get rid of it.

(Hat tip to Ian at Truck and Barter.)

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