UK GAS-Prices rise as coming cold wave seen lifting demand

Britain’s wholesale gas prices rose on Monday due to expectations for colder weather and consequently higher demand in coming days, with stronger carbon also lending support.

* Day-ahead gas rose by 1.00 pence to 39.00 pence/therm by 0905 GMT.

* The December gas contract was up 0.39 pence at 42.28 pence/therm.

* Expectations for colder weather in coming days were behind the rise in prices, gas traders said.

* Strong carbon also contributed to the price move, one trader said.

* Average daily temperatures are forecast at 6.4 degrees Celsius on Monday and are expected to fall to 5.2 C the next day, Refinitiv Eikon data showed.

* The gas system was oversupplied, with demand forecast at 264.0 million cubic metres and supply at 299.6 mcm/day, National Grid data showed.

* Demand is seen much higher on Tuesday, a gas trader said, at 308 mcm/day.

* The benchmark Dec-19 EU carbon contract rose by 0.54 euro to 25.38 euros a tonne.

* Prices rose despite strong piped supplies and wind power generation, factors that were likely to push the within-day price lower, a gas trader said. Within-day had not yet traded.

* Norwegian gas flows rose to 102 mcm per day, from 101 mcm on Friday, with imports through the Langeled pipeline flowing at maximum capacity.

* One LNG cargo arrived in Britain on Sunday, with three more vessels expected by the end of the week.

* Wind power generation is expected to reach 9.8 gigawatts (GW) on Monday and rise to 10.7 GW on Tuesday, Elexon data showed.

* Day-ahead gas at the Dutch TTF hub rose by 0.55 euro to 15.25 euros per megawatt hour (MWh).

* The Dutch month-ahead gas contract, a benchmark for LNG prices as well as European gas, was up 0.28 euro at 16.13 euros/MWh.

Source: Reuters (Reporting by Lefteris Karagiannopoulos; Editing by Dale Hudson)