UK GAS-Prices rise as wind power output, temperatures slip

LONDON, Dec (Shanghai: 600875.SS - news) 19 (Reuters) - Prompt British wholesale gas prices rose on Wednesday morning on lower forecasts for wind power production and cooler temperatures.

* Day-ahead gas price up 0.60 pence at 65.20 pence per therm by 0904 GMT.

* Within-day gas price up 0.60 pence at 65.00p/therm.

* Traders cited expectations of strong demand from power plants as output from the country's wind farms slipped.

* Traders also said colder temperatures than previously forecast had buoyed demand.

* Peak wind power generation is forecast at 7.4 gigawatts on Wednesday, down from highs of 11.5 GW the previous day, National Grid data showed.

* Refinitiv analysts increased their expectations of gas for power demand by 4 million cubic metres due to lower wind speeds, they said in a daily research note.

* Gas system almost balanced with demand forecast at 274.9 mcm/day and flows at 281.8 mcm/day, National Grid (LSE: NG.L - news) data showed.

* Average temperatures in Britain were forecast at 6.6 degrees Celsius, Eikon Refinitiv data showed, a drop of 2.1 degrees compared with the previous forecast.

* "After a warm spell over the next few days we expect the temperatures adjusting down closer to normal mid next week," the analysts wrote.

* Around 80 percent of Britain's homes are heated using natural gas, meaning temperatures can have a big impact on demand.

* Further out on the curve, prices also rose.

* Jan contract up 1.35 p at 67.25 p/therm.

* Q1 2019 contract up 1.31 p at 66.70 p/therm.

* Day-ahead gas price at the Dutch TTF hub up 2.26 euros at 24.42 euros per megawatt hour.

* Benchmark Dec-19 EU carbon contract up 0.57 euro at 24.94 euros per tonne. (Reporting By Susanna Twidale; Editing by Dale Hudson)