UK GAS-Prices mostly down on mild weather, strong Norwegian flows
Jan 10 (Reuters) - British wholesale gas prices were mostly lower on Wednesay as milder weather and strong Norway flows curbed demand. * Within-day gas fell by 0.55 pence to 52.75 pence per therm at 0939 GMT. * The February contract was down 0.50 pence at 53.95 pence/therm. * Mild weather and strong Norwegian gas flows have created an oversupplied system and driven within-day gas prices lower, said a British gas trader. * Britain's gas system was oversupplied by 12.9 million cubic metres (mcm), with demand forecast at 336.4 mcm and supply at 349.3 mcm/day, National Grid (LSE: NG.L - news) data showed. * Gas supply from Norway to Britain on Wednesday was stable at 138 mcm/day, close to the pipeline system's maximum capacity. * Average temperatures on Wednesday could reach 8 degrees Celsius in southern Britain and are forecast to decline to 6 degrees C on Thursday until Sunday, data from Britain's Met Office showed. * Falling temperatures from Thursday caused the day-ahead contract to edge up. * Day-ahead gas was inched up by 0.03 pence to 53.20 pence per therm. * In the Dutch gas market, the day-ahead gas price at the TTF hub fell by 0.12 euro to 19.30 euros per megawatt hour (MWh). * The benchmark Dec (Shanghai: 600875.SS - news) -17 EU carbon contract was up 0.08 euros at 7.86 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 Nina Chestney)