Advertisement
UK markets closed
  • FTSE 100

    8,139.83
    +60.97 (+0.75%)
     
  • FTSE 250

    19,824.16
    +222.18 (+1.13%)
     
  • AIM

    755.28
    +2.16 (+0.29%)
     
  • GBP/EUR

    1.1679
    +0.0022 (+0.19%)
     
  • GBP/USD

    1.2494
    -0.0017 (-0.13%)
     
  • Bitcoin GBP

    50,483.77
    -999.93 (-1.94%)
     
  • CMC Crypto 200

    1,304.48
    -92.06 (-6.59%)
     
  • S&P 500

    5,099.96
    +51.54 (+1.02%)
     
  • DOW

    38,239.66
    +153.86 (+0.40%)
     
  • CRUDE OIL

    83.66
    +0.09 (+0.11%)
     
  • GOLD FUTURES

    2,349.60
    +7.10 (+0.30%)
     
  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     
  • HANG SENG

    17,651.15
    +366.61 (+2.12%)
     
  • DAX

    18,161.01
    +243.73 (+1.36%)
     
  • CAC 40

    8,088.24
    +71.59 (+0.89%)
     

UK GAS-Prices fall on ample supply, revised weather forecasts

* Kaarstoe gas processing plant to ramp up on Saturday (Shenzhen: 002291.SZ - news)

* Contract for next week down by more than 5 pct (Updates prices)

LONDON, Jan 8 (Reuters) - British wholesale gas prices fell on Friday on an expected rise in supply and as some weather forecasts pointed to slightly milder temperatures than previously indicated.

Gas for day-ahead delivery fell 0.75 pence to 34.10 pence per therm, while the contract for working days next week fell by 2 pence, or more than 5.5 percent, to 34 p/therm.

Imports from the Netherlands through the BBL (Shenzhen: 002776.SZ - news) pipeline have risen and Norway's Kaarstoe gas processing plant should return to normal production on Saturday after a partial shutdown that started early on Friday.

ADVERTISEMENT

The system was largely balanced by 1600 GMT on Friday, with demand forecast at about 308 million cubic metres (mcm) and flows at around 307 mcm, National Grid (LSE: NG.L - news) data showed.

In the Netherlands, the day-ahead gas price at the TTF hub fell 0.63 euros to 14.75 euros per megawatt-hour.

(Reporting by Susanna Twidale and Nina Chestney; Editing by David Goodman)