European gas deregulation seen saving billions

European gas consumers could save up to $2 billion/year (£4 billion/year) by 2005 if gas markets were deregulated to the same extent as the UK market, according to a new study.UK consultants Energy Markets Ltd. also estimated that by 2010 these savings would increase to $3.6 billion/year (£2.5 billion/year). Consumers in the UK would also benefit from lower gas prices in continental Europe because of the direct pipeline link through the UK-Belgium Interconnector system, said Mike Fulwood, CEO of EML. Rising pricesEuropean buyers have driven up wholesale gas prices in the UK during the past 2 years as they sought cheaper alternatives to traditional supplies from Norway, Russia,...

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