UK GAS-Prices rise on low wind output
LONDON, July 16 (Reuters) - British wholesale gas prices rose on Monday morning as low wind energy output drove up gas-to-power demand.
* Gas for immediate delivery was up 1.00 pence at 59.00 pence per therm at 0849 GMT
* Gas for day-ahead delivery was 0.65 pence higher at 58.85 p/therm
* "Wind output is still low, continuing the same trend as last week," a UK gas trader said
* Low wind power generation generally translates to more demand for gas from gas-to-power plants
* Peak wind generation is estimated at 2.3 gigawatts on Monday, according to Elexon data, though a forecast was unavailable for Tuesday
* A Norwegian union for workers on offshore oil and gas drilling rigs stepped up a six-day strike on Monday that has hit oil output after employers did not respond to demands for higher wages and pension benefits
* The union is adding 900 workers to the strike, under a plan announced last week, after failing to win concessions before a midnight (2200 GMT) deadline since almost 700 workers on the rigs went on strike
* The UK gas system is slightly oversupplied with flows forecast at nearly 186 million cubic metres (mcm) and demand at 180 mcm/day, National Grid (LSE: NG.L - news) data shows
* Norwegian supply through the Langeled pipeline is forecast at 45 mcm/d and UK domestic production at 99 mcm/d, Thomson Reuters (Dusseldorf: TOC.DU - news) Eikon data shows
* The average daily temperature in Britain is forecast at 19.3 degrees Celsius on Monday, falling to 17.3 degrees C on Tuesday
* The August contract was 0.55 pence higher at 58.55 p/therm
* In the Dutch gas market, the day-ahead TTF price was 0.17 euro higher at 22.65 euros per megawatt hour
* The benchmark Dec (Shanghai: 600875.SS - news) -18 EU carbon price was 0.15 euro higher at 16.21 euros a tonne (Reporting by Nina Chestney)