UK GAS-Prices climb on coal rise and weather forecast

Oct (Shenzhen: 000069.SZ - news) 4 (Reuters) - Wholesale gas prices rose on Wednesday, taking a lead from climbing coal prices and boosted by forecasts for cold weather, traders said. * British within-day gas price up by 0.30 pence at 46.70 pence/therm at 0930 GMT. * Day-ahead gas rose by 0.45 pence to 46.60 pence per therm. * The November gas contract rose 0.06 pence to 49.30 pence per therm. * Rising coal prices and an undersupplied system amid forecasts for cold weather explain the gas prices hike, said a British gas trader. * Britain's gas system was slightly undersupplied, with demand forecast at 233.8 mcm/day and supply at 228.5 mcm/day, National Grid data showed. * Average temperatures on Wednesday could reach 16 degrees Celsius in southern Britain and are forecast to remain largely stable until the end of the weekend, UK Met Office forecasts showed. * Gas supply from Norway to Britain remained at high levels at 98 million cubic meters per day (mcm/day) on Wednesday from 99 mcm/day. * Peak wind power generation is forecast at 8.6 gigawatts (GW) on Wednesday and is expected to rise to 9.0 GW on Thursday, Elexon data showed. * The day-ahead gas price at the Dutch TTF hub rose by 0.12 euro to 17.52 euros per megawatt hour (MWh). * The benchmark Dec (Shanghai: 600875.SS - news) -17 EU carbon contract grew 0.04 euro to 7.04 euros a tonne.

Thomson Reuters (Dusseldorf: TOC.DU - news) analyst view: http://emea1.apps.cp.extranet.thomsonreuters.biz/cms/?pageid=united-kingdom-gas (Reporting by Lefteris Karagiannopoulos in Oslo; Editing by Edmund Blair)