UK GAS-Increased demand lifts prompt prices before cold snap

LONDON, Dec (Shanghai: 600875.SS - news) 7 (Reuters) - British wholesale prompt gas prices rose on Thursday morning on expectations of a cold snap which has increased consumption forecasts. * Day-ahead gas was up 1.80 pence at 58.45 pence per therm by 0920 GMT. * Within-day gas rose by 0.10 pence to 57.60 pence per therm. * A drop in temperatures of up to seven degrees from Friday has lifted residential and commercial consumption forecasts to 251 million cubic metres/day (mcm/day) from 195 mcm/day on Thursday, Thomson Reuters (Dusseldorf: TOC.DU - news) analyst Oliver Sanderson said. * Britain's gas system was marginally oversupplied, with total demand forecast at 276.7 mcm and supply at 277.1 mcm/day, National Grid (LSE: NG.L - news) data showed. * Gas supply from Norway to Britain on Thursday reached 133 mcm/day, nearing maximum capacity. * January gas fell 0.40 pence at 58.15 pence/therm. * In the Dutch gas market, the day-ahead gas price at the TTF hub fell by 0.17 euro to 21.35 euros per megawatt hour (MWh). * The benchmark Dec-17 EU carbon contract inched down by 0.03 euro to 7.24 euros a tonne. * Thomson Reuters analyst view: http://emea1.apps.cp.extranet.thomsonreuters.biz/cms/?pageid=united-kingdom-gas (Reporting by Oleg Vukmanovic; editing by Nina Chestney)