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Why are gas prices rising?

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Gas prices are rising due to low gas reserves, strong commodity and carbon prices, heightened global demand, and low wind output. The UK has been hit relatively hard because around 85% of homes have gas central heating, and gas generates a third of the country's electricity. We saw a particularly cold winter in Europe last year which put pressure on supplies and reduced the amount of gas stored. There was also a relatively windless summer in 2021, which made it difficult to generate wind energy.

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