Two more energy companies have gone bust as UK's gas supply crisis continues

The video discusses the UK's limited natural gas storage capacity, which is only 1% of its annual supply, compared to over 20% in France and Germany. This lack of storage has left the UK vulnerable to global price spikes. The crisis has led to the collapse of energy suppliers like Avro and Green Energy, affecting 830,000 customers. The government has intervened by paying energy bills to prevent shortages in critical sectors. The crisis highlights the vulnerability of the UK's infrastructure and its reliance on just-in-time supply chains, exacerbated by the pandemic and Brexit.

What is one reason the UK is more exposed to global gas price spikes compared to France and Germany?

• The UK imports more gas from the US.

• The UK has higher gas consumption rates.

• The UK has less natural gas storage capacity.

• The UK has more natural gas reserves.

Which two energy suppliers ceased trading due to the gas crisis?

• British Gas and EDF Energy

• Avro and Green Energy

• E.ON and Scottish Power

• Shell Energy and Octopus Energy

What role does Ofgem play in the context of the gas crisis?

• It manages the national gas reserves.

• It provides financial aid to energy companies.

• It regulates the price of gas.

• It supplies gas to households.

What is one of the broader implications of the gas crisis on the UK's infrastructure?

• Reduction in gas imports

• Expansion of gas storage facilities

• Increased reliance on renewable energy

• Vulnerability to short-term shocks

What long-term goal does Britain hope to achieve regarding its energy supply?

• End reliance on gas

• Increase gas imports

• Expand coal mining

• Build more nuclear reactors