Brits will burn the most gas in four years next week as cold snap hits the UK

Demand for gas in the UK is set to reach a four-year peak in the next ten days, as a cold snap drags in over the country, experts have said.

Temperatures could hit as low as -3°C in the capital over the weekend, according to data from the Met Office.

Read more: London prepares for significant snowfall as UK airports close in cold snap

The freezing temperatures will force Brits to huddle around their radiators, sending demand for gas through the roof, analysts at Marex Spectron said.

But as demand grows, supplies will also rise, and lower demand than expected in Europe could push down prices.

Read more: London snow: TfL ‘working around the clock’ to avoid travel disruption

“As demand was one of the largest recorded over the past 4 years, supply increased to meet it. This, in theory, should promote a positive price development, which is not, however, what we are seeing,” said research analyst Giacomo Masato.

“Supply in mainland EU is abundant and this is creating an imbalance with demand. As a result the [British] price reacts more to the oversupplied scenario in Europe rather than to its local fundamentals, that are certainly more bullish.”