Sir John Mogg is keen to guard against complacency when it comes to the country’s gas supplies. But, in an interview with the Financial Times, the Ofgem chairman said he was “much more confident” of the UK having enough gas to get through the coming winter and was hopeful that gas prices would come down next year.

Since the discovery of North Sea gas 40 years ago, both the government and businesses have been lulled into a false sense of security about supplies. Long-term investments in pipelines and gas storage facilities were not made. As these domestic supplies have run down Britain has been caught short and the result has been steep rises in wholesale gas prices.