UK GAS-Prices decline on high temperatures, robust supplies
LONDON, July 6 (Reuters) - British wholesale gas prices declined on Thursday morning due to robust supplies and high temperatures which dulled demand. * The day-ahead gas price was 0.48 pence lower at 37.00 pence per therm at 0751 GMT. * Within-day gas was down 0.55 pence at 37.50 p/therm. * Supply from Norway is robust, with the Langeled pipeline flowing at around 46 million cubic metres (mcm). Vesterled flows have increased to 18 mcm. * The system was largely balanced, with demand forecast at 188 mcm and flows at almost 187 mcm/day, National Grid (LSE: NG.L - news) data shows. * Temperatures in the southeast of England are above normal at around 29 degrees Celsius on Thursday, gradually falling to 23 degrees C by Saturday (Shenzhen: 002291.SZ - news) , UK Met Office data shows. * "Next (Frankfurt: 779551 - news) week will be more unsettled with widespread showers and thunderstorm activity. Temperatures will drop to near or even slightly below normal," said Georg Muller, meterologist at Thomson Reuters (Dusseldorf: TOC.DU - news) . * After about July 15, a trend to warmer and drier weather is visible but uncertainty is still high," he added. * Peak wind generation is forecast at 2,051 megawatts (MW) on Thursday, declining to 1,558 MW on Friday, according to Elexon. * Gas-for-power demand remains high at 54 million cubic metres (mcm) because output from wind farms is low, said Thomson Reuters analysts. * August gas contract was down by 0.30 pence at 36.70 p/therm. * The British baseload day-ahead power price was down 8.50 pounds at 41.50 pounds per megawatt hour. * Day-ahead gas at the Dutch TTF hub was 0.15 euro lower at 15.20 euros per megawatt hour. * Benchmark Dec-17 EU carbon contract up 0.05 euro at 5.09 euros a tonne. * Thomson Reuters analyst view: http://emea1.apps.cp.extranet.thomsonreuters.biz/cms/?pageid=united-kingdom-gas (Reporting by Nina Chestney)