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UK GAS-Prices rise on lower Norwegian flows, undersupplied system

June 26 (Reuters) - British wholesale gas prices rose on Monday as lower Norwegian flows resulted in undersupply. * Within-day gas price was up by 1.60 pence at 36.90 pence/therm at 0900 GMT. * Day-ahead gas price rose by 0.95 pence to 36.95 pence/therm. * Britain's gas system was undersupplied by 17.4 million cubic metres (mcm), with demand forecast at 161.4 mcm and flows at 144.0 mcm/day, National Grid (LSE: NG.L - news) data showed. * Gas prices are up due to lower flows from Norway, said a British gas trader, citing outages at Entry SEGAL pipeline and Kollsnes processing plant. * Monday's gas imports to Britain from Norway were 21 mcm lower than Friday's levels. * Norway's Gassco revised the size of its planned Kollsnes plant outage on Monday to 48.0 mcm from 44.5 mcm. * Gassco also revised the unplanned gas outage at Entry SEGAL pipeline to 18.1 mcm from 4.6 mcm for Tuesday and extending its expected duration to between six and seven days. * "Day-ahead power prices spiked on Friday due to low renewable generation forecasts for today," said a second trader, explaining the next day's wholesale electricity price which lost more than a quarter of its value. * The British baseload day-ahead power price slumped 15.78 pounds to 42.60 pounds per megawatt hour (MWh) * Peak wind power generation is forecast at 2.8 gigawatts (GW) on Monday and is expected to rise to 5.2 GW on Tuesday, National Grid data showed. * July gas contract rose by 0.75 pence to 36.60 p/therm. * Day-ahead gas at the Dutch TTF hub edged down by 0.02 euros at 15.05 euros/MWh. * Benchmark Dec-17 EU carbon contract inched down by 0.02 euros to 4.85 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)