UK GAS-Prices fall due to higher Norwegian supply

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LONDON, May 23 (Reuters) - British wholesale gas prices fell on Thursday morning, with gas for immediate delivery at a one-month low, due to oversupply.

* Within-day gas price was down nearly 10.5% to 27.75 pence per therm at 0715 GMT, a level last reached on April 23.

* Day-ahead gas price down nearly 4% at 28.50 p/therm.

* "Norwegian supply has gone up - the main reason the market is long," a gas trader said.

* Flows from Norway through the Langeled pipeline have increased. Norwegian supply has been re-routed to Britain from continental Europe due to an outage at the Emden gas terminal.

* Demand is forecast at 189 million cubic metres (mcm) and supply at 216 mcm/day, leaving the system oversupplied by 27 mcm, National Grid data shows.

* Warm temperatures have also dampened demand, traders said.

* Peak wind generation is forecast at around 4.8 gigawatts (GW) on Thursday and 4.4 GW on Friday out of a total metered capacity of around 12 GW, Elexon data shows.

* Further along the curve, the Winter 2019 contract was 0.30 p lower at 54.50 p/therm.

* Day-ahead gas price at the Dutch TTF hub was 0.33 euro lower at 12.60 euros per megawatt hour.

* Benchmark Dec-19 EU carbon contract dipped by 0.12 euro to 26.25 euros a tonne. (Reporting by Nina Chestney; Editing by Mark Potter)