If UK does not use Russian gas then WHY our prices are the highest in Europe??

[IceCreamTime19]

As above

They are not.
Google's top 10 in world has several Scandinavian countries Phys Switzerland and no sign of UK.
www.globalpetrolprices.com/gasoline_prices/World-top10/

That lists gasoline (not gas) prices?

have just checked Europe and after Scandinavia and Switzerland, we are 6th most expensive. Not sure why!

Ignore me - I found the tabs for natural gas and electricity

The 6 key reasons

1. We don’t have enough gas
2. Russia's invasion of Ukraine
3. We had a long winter
4. Most energy sources have struggled
5. Other nations are buying more gas
6. Our European suppliers are suffering

That was from a quick Google

Long winter? Not really ...

Russia cut its gas supply to Europe.

Because many other countries' governments are capping the price or their energy is supplied through a nationalised industry.

Our lack of dependency in Russian gas is useful in that it means we won't be risking power cuts due to lack of supply, but as we still buy nearly half our power from overseas, we're competing for that power along with everyone else who does rely on Russian gas, and that pushes the price skyward because the power companies are privately owned and act to maximise shareholder profit.

Oh and we can't buy gas now and store it because we mothballed most gas storage facilities 20 years ago. You used to see those big gas containers all over the place when I was a child. They're hardly there these days.

www.euronews.com/my-europe/2022/08/26/soaring-energy-prices-how-does-the-uk-compare-with-europe

This article is interesting

From what I understand any energy produced by the UK goes onto the open market to be sold by the private companies that own it. We buy our energy in and that supply has massively dwindled since Russian gas is no longer on the table. So the countries that would have bought from Russia, such as Germany, are now having to source from the same supply as we are. So that’s pushed the price up.

It’s a bloody long cold winter in the north of England, believe me!

I still do not get it how russia war with ukraine is affecting UK gas/ electricity prices. Why the Gov is not putting decent cap on? Utility companies still making billions in profit. It is ridiculous. In regards to cold winter, again I am not buying it ! I live in the north and there was not a single day of snow last winter, maybe a few nights with temperature below zero but nothing like Scandinavia where they had -30 degrees. Jez I never thought the UK would get so low. Other countries are doing much better with supporting their citizens and UK does nothing. A joke, not a country.

There's less gas in countries who normally bought from Russia, therefore there's bigger demand for gas from other sellers. They reach to sources that UK used to buy gas from. When there's so many countries willing to buy and less sellers, those who are left, are putting prices up.
Regarding cap, I wish I knew too... I bet politicians in the UK don't want to put cap like other countries and charge more in taxes later on, but that's my guess. Obviously countries that have cap on energy prices now, are going to charge for it in higher taxes later on or less funding for other things like healthcare, roads, schools. On the other hand, aren't they wasting taxpayers money already? 😖

But the healthcare, roads and schools are already crap in the UK. So surely the Gov should be able to help with gas costs more!

Because of our stupid wholesale energy pricing model and the way it is regulated. Although the power we use comes from a mix of sources (nuclear, gas, renewables...) the price is rigged so that the private energy companies, including those that produce the most expensive energy are ensured to make a profit. So although wind and solar are free, gas is currently expensive (£610/MWh now) but because of marginal pricing, everyone is paid the price that gas generators get. The analogy is the same as if you go to a supermarket and caviar is priced at £5000/kg and that is the price for carrots, broccoli, beef mince... it is idiotic and all it takes is the government to issue emergency legislation to change the regulatory system (which they can do quickly, as they did during Covid). Centrica handed out literally hundreds of millions to shareholders because they don't know what to do with all their profits. So this just corporate greed propped up by right wing ideological zealotry that forms the backbone of the Tory government. The economist Richard Murphy writes about this more eloquently you can google him if you want to understand more.

The utility companies aren't making massive profits (apparently). That's why the price cap has to go up. Otherwise they would have to sell us energy at a loss. It's BP, Shell etc who are making the huge profits. More windfall taxes on these companies would be great, but I guess it's not that simple otherwise the Government would do it...

Worldwide wholesale gas and elec prices, and coal come to that, started rising mid 2020. Two years before Russia.

www.mumsnet.com/talk/cost_of_living/4622480-wfh-a-cause-of-huge-rise-in-cost-of-gas-and-electricity-price?page=3&reply=119618639

Also worldwide demand has gradually increased as developing countries have been lifted out of poverty.

It is just crazy...... but thanks all who responded, it makes more sense now

I think the other issue @IceCreamTime19 is that currently we dont really have a Government! Until (and it looks very likely) Liz Truss comes in on Monday and gets a new Cabinet how can they do anything.

Yep, I agree. This is why I can't understand it either. We overpay for the quality of services we get anyway... We pay road tax, we pay taxes on petrol and diesel. We pay council tax. So many hidden taxes in the UK. Where on earth does this money go then? Politicians salaries?

Good questions, no answers 🙃

So this is where the Government currently spends the money or to be more accurate our money from taxes:

FYI Social protection is mostly state pensions.