UK GAS-Prices rise on low wind power output
British wholesale gas prices rose on Wednesday as low power generation from wind turbines created a supply deficit, increasing demand, traders said.
* Within-day gas prices were up 1.25 pence at 37.25 p/therm as of 0910 GMT.
* Day-ahead gas rose by 0.35 pence to 36.95 pence per therm.
* “In the near term, wind is down across the UK and the Continent for the week ahead, so that is supporting power prices,” a British gas trader said.
* Peak wind power generation is forecast at 4.6 gigawatts on Wednesday and is expected to be at the same level on Thursday, National Grid data showed. The total capacity of the country’s turbines is 12.1 GW.
* Gas demand in Britain was forecast at 244.5 million cubic metres (mcm) per day and flows at 231.8 mcm/day, National Grid data showed.
* Average daily temperatures in Britain are expected to be 8.8 degrees Celsius on Wednesday and are forecast to fall to 8.3 C on Thursday.
* Norwegian gas flows to Britain fell slightly to 87 mcm/day from Tuesday’s 88 mcm/day.
* Britain expects six liquefied natural gas tankers to arrive by April 7.
* The April contract rose 0.50 pence to 36.85 p/therm.
* The benchmark Dec-19 EU carbon contract was up by 0.11 euros to 21.65 euros per tonne.
* Day-ahead gas at the Dutch TTF hub was down 0.05 euros per megawatt hour at 14.65 euros per MWh.
Source: Reuters (Reporting by Lefteris Karagiannopoulos in Oslo; Editing by Jan Harvey)