The only way we can get out of this spiral is to bring new gas to the UK.

With wholesale prices where they are, all suppliers are going to have to put prices up in 2006, and I think that is inevitable.

The reality was that the market changed very fast. We had to put our prices up very quickly and we hadn’t forecast that sort of change. I don’t think anybody forecast the sort of volatility...

While there can be no guarantees in such a volatile wholesale market, we see no need for any further price rises this year, assuming the infrastructure is ready to deliver new gas next winter and...