Woooaaaaa! Check out this graph, from the BBC. (You can read the rest of the story there as well).

That’s one hell of a rise in Gas Prices in the UK.

So why?
There’s a few reasons.
1). UK Gas supply has peaked, hence more reliance on imports.
2). Norwegion supply has had some ‘unspecified difficulties’ resulting in a 10% drop in production (some of which is sold to UK).
3). French Gas works on strike
4). Cold weather in UK.
5). UK’s primary storage facility is out of action until May 1st.

Bloomberg has a report on the situation as well.
MP John Hemming (Chairman of the Independent Energy Scrutiny Panel) has written about it on his blog.
Finally, there’s some more discussion over here.

While I’m having a rant about this… may as well stick up this link about how some people in the US Army now are becoming aware about the issue of Peak Oil (&Gas).