Sales of torches, portable generators and warm clothing have skyrocketed in response to warnings from the National Grid a cold snap could cause power cuts this winter.
According to Travis Perkins (LSE:TPK) PLC subsidiary, Toolstation, sales of generators are up 203% and torches by 43% in October so far compared to 2021 figures, whilst John Lewis of Hungerford PLC (AIM:JLH) said people are stockpiling warm clothing.
“It is clear customers are preparing for this worst-case scenario,” said Toolstation.
Previous warnings from the National Grid suggested that three-hour power cuts could take place this winter in an attempt to ration potentially low energy supplies caused by the war in Ukraine.
Ofgem chief executive Johnathan Brearley urged people to reduce gas and electricity consumption at the Energy UK annual conference on Thursday, also announcing a public information campaign to help consumers do so.
He said: “Ofgem is working with the energy sector and interested groups to help consumers navigate this information, and we will shortly be launching a campaign to explain the support that is available, on how to reduce energy consumption.”
A similar campaign was previously expected from the government, set to cost £15mln, but was vetoed by the Prime Minister as the government continues to reassure that power cuts will not be needed.