(Bloomberg) -- Britain faces “knock-on impacts” for the country’s energy supplies such as rocketing prices if Russia cuts off natural gas flows to Europe, according to National Grid Plc.Most Read from BloombergRockstar Games Cleaned Up Its Frat-Boy Culture — and Grand Theft Auto, TooUS Economy Shrinks for a Second Quarter, Fueling Recession FearsFed Hikes 75 Basis Points Second Time, Signals Third Is PossibleBiden Considers New Pause on Paying Back Student Loans, $10,000 ReliefThe Strong Dollar
The money saving guru warned the 'typical energy bill' could to rise to £3,500 a year.
Britain's National Grid said on Thursday there could be periods where electricity supply is tight this winter, given uncertainty over supplies of Russian gas to Europe, but that it expects to be able to meet demand. Countries across Europe are making contingency plans for winter after Russia reduced natural gas flows and said supplies could be cut further or even stop. "While Britain is not reliant on Russian gas to the extent that the rest of Europe is, it is clear that the cessation of flows of gas into Europe could have knock-on impacts, including very high prices," National Grid's Electricity System Operator (ESO) said in an early winter outlook published on Thursday.