Norway has signalled today it may have to introduce electricity rationing this winter. That could be a big problem for the UK. The government’s line for months has been that Britain has no supply problem on electricity, or gas, as it has enough supply coming from Norway. Perhaps not, it now turns out. While the Norwegian government is stressing the importance of European cooperation, it has promised to prioritise supplying Norwegian homes and businesses. If Norway does have to start rationing electricity, will gas be next?
The root of the problem lies in Russia’s invasion of Ukraine. It prompted European countries to shift their supply of oil and gas. The UK was not in that ship, importing only 8 per cent of oil from Russia. Instead, it received nearly half of its crude oil imports from Norway, a trusted ally where stability was guaranteed. Until today.