THE UK's electricity supply could be tight at times this winter but there should be sufficient supplies to meet demand, revealed the body tasked with balancing the country's energy grid.

In its latest report ahead of winter, the National Grid's Electricity System Operator (NGESO) has forecast that margins might narrow significantly towards the very end of the year, however it expects there will be sufficient power to keep the lights on.

It said: "We expect there to be sufficient available capacity to respond to these market signals to meet consumer demand."

While supplies are hopefully secure this winter, NGESO has warned that Europe's dependence on Russian gas means that "cessation of flows of gas into Europe could have knock-on impacts".

This includes very high wholesale costs, with the latest forecast from Cornwall Insight predicting the consumer price cap will climb to £3,500 per year in October - putting more pressure on UK households.

(c) 2022 City A.M., source Newspaper