UK GAS-Prices mostly rise on lower Langeled flows, cooler temperatures

British wholesale gas prices were mostly up on Monday morning as lower temperatures raised consumption and flows through the Langeled pipeline were down.

* The day-ahead contract was 0.40 pence higher at 14.00 pence per therm by 0844 GMT.

* The July contract was up 0.30 pence at 14.20 p/therm.

* Local distribution zone is up due to much cooler temperatures than last week and Norwegian flows through the Langeled pipeline are at 13 mcm this morning, down from 26 mcm/d on Friday, Refinitiv gas analysts said.

* However, the system was oversupplied by 17 million cubic metres (mcm), with demand forecast at 153 mcm and flows at 170 mcm/day, National Grid data shows.

* Gas-for-power demand is reduced due to high wind output and liquefied natural gas send-out has risen.

* Total LNG sendout is nominated at 40 mcm, up from 34mcm/d on Friday, due to higher send-out from the Isle of Grain terminal which has been inactive for most of June.

* Peak wind generation is forecast at 12.4 gigawatts (GW) on Monday and 11 GW on Tuesday, out of total metered capacity of around 15 GW, Elexon data shows.

* The within-day contract was flat at 13.70 p/therm.

* The July gas price at the Dutch TTF hub was up 0.08 euro at 5.30 euros per megawatt hour.

* The benchmark Dec-20 EU carbon contract was 0.11 euro higher at 24.84 euros a tonne.
Source: Reuters (Reporting by Nina Chestney)