UK GAS-Prices up on colder weather, reduced Norway flows

Nov 16 (Reuters) - British wholesale gas prices rose on Thursday despite an oversupplied system, driven by reduced gas flows from Norway and forecasts for colder weather, said traders. * Day-ahead gas was up 0.80 pence to 52.20 pence per therm at 0933 GMT. * Within-day gas was up 0.85 pence at 51.90 pence per therm. * Reduced gas flows from Norway drove wholesale gas prices higher, while forecast colder weather gave an extra boost to prompt, said a British gas trader. * Britain's gas system was oversupplied by 12.5 million cubic metres (mcm), with demand forecast at 258.0 mcm and supply at 270.5 mcm/day, National Grid (LSE: NG.L - news) data showed. * Gas supply from Norway to Britain on Thursday reached 123 mcm/day, down 7 mcm/day from Wednesday, as flows through the Vesterled pipeline declined by 8 mcm/day. * Average temperatures on Thursday could reach 13 degrees Celsius in southern Britain and are expected to fall to 8 degrees at the weekend, data from Britain's Met Office showed. * Britain's gas demand on Thursday was 26.4 mcm lower than the seasonal normal demand, National Grid data showed. * Peak wind power generation is forecast at 7.4 gigawatts (GW) on Thursday but expected to rise to 7.7 GW on Friday, Elexon data showed. * Higher wind output typically results in lower demand from gas-to-power plants. * The December contract was up by 0.25 pence at 53.65 pence/therm. * In the Dutch gas market, the day-ahead gas price at the TTF hub rose by 0.23 euro to 19.25 euros per megawatt hour (MWh). * The benchmark Dec (Shanghai: 600875.SS - news) -17 EU carbon contract fell by 0.01 euro to 7.68 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 Mark Potter)