Advertisement
UK markets closed
  • FTSE 100

    8,213.49
    +41.34 (+0.51%)
     
  • FTSE 250

    20,164.54
    +112.21 (+0.56%)
     
  • AIM

    771.53
    +3.42 (+0.45%)
     
  • GBP/EUR

    1.1652
    -0.0031 (-0.26%)
     
  • GBP/USD

    1.2546
    +0.0013 (+0.11%)
     
  • Bitcoin GBP

    50,756.15
    +505.11 (+1.01%)
     
  • CMC Crypto 200

    1,312.63
    +35.65 (+2.76%)
     
  • S&P 500

    5,127.79
    +63.59 (+1.26%)
     
  • DOW

    38,675.68
    +450.02 (+1.18%)
     
  • CRUDE OIL

    77.99
    -0.96 (-1.22%)
     
  • GOLD FUTURES

    2,310.10
    +0.50 (+0.02%)
     
  • NIKKEI 225

    38,236.07
    -37.98 (-0.10%)
     
  • HANG SENG

    18,475.92
    +268.79 (+1.48%)
     
  • DAX

    18,001.60
    +105.10 (+0.59%)
     
  • CAC 40

    7,957.57
    +42.92 (+0.54%)
     

UK GAS-Prices mostly rise on lower wind power, undersupply

LONDON, June 24 (Reuters) - British wholesale gas prices mostly rose on Monday due to slight undersupply in the market and higher demand from power plants on expectations of a dip in wind power.

* Within-day gas price up 1.05 pence at 28.30 pence per therm by 0752 GMT.

* Day-ahead gas price up 0.50p at 28.50 per therm.

* Traders said lower imports from Norway had left the British gas market undersupplied, while expectations of weaker output from the country's wind farms buoyed gas demand from power stations.

* Imports from Norway through the Langeled pipeline were expected at 57 mcm on Monday, down 16 mcm from the previous day.

ADVERTISEMENT

* UK Gas system slightly undersupplied by 3.6 million cubic meters (mcm) with demand forecast at 180.2 mcm and flows at 176.6 mcm/day, National Grid data showed.

* Peak wind power generation is forecast at 6 gigawatts (GW) on Monday, falling to 3.2 GW on Tuesday.

* "Gas for power consumption is forecast at 67 mcm/d today slightly higher from 63 mcm/d on Friday," analysts at Refinitiv said in a daily research note.

* Further out on the curve prices also rose.

* July contract up 0.25p at 27.70p/therm.

* September contract up 0.70 at 32.20 p/therm

* Day-ahead gas price at the Dutch TTF hub down 0.30 euro at 10.00 euros per megawatt hour.

* Benchmark Dec-19 EU carbon contract up 0.41 euro at 25.71 euros per tonne. (Reporting by Susanna Twidale; editing by Emelia Sithole-Matarise)