Government energy support could be vulnerable in the event energy providers collapse, the chief executive of Centrica says.
"If this goes right, they will make even more money than they have today. And if it goes wrong, our customers have to pick up the cost - that cannot be right."for units of gas and electricity, reimbursing suppliers for the difference between that and the real cost of energy.Mr O'Shea said the decision to pay suppliers up-front meant that money was at risk in the event of collapse, along with customer deposits.
Mr O'Shea was speaking at the Easington Gas Terminal on Humberside as Centrica began drawing gas from the Rough offshore storage facility for the first time since it reopened in October to try to improve the UK's energy resilience.generation in recent days, increasing the price and demand for gas and prompting a call from the National Grid to increase supply.
"If that wasn't here today we'd have to look for alternative sources of gas, or we'd have to look for ways to cut electricity consumption. But definitely the place would have gone up by the simple economics of supply and demand. If demand goes up and supply doesn't go up, then prices increase. So it is keeping prices down, but it also means we don't have to look elsewhere.
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