UK GAS-Prompt prices fall on warm weather and high wind levels

Oct (Shenzhen: 000069.SZ - news) 11 (Reuters) - British prompt gas prices fell on Wednesday as forecasts for warm weather and strong wind, supported by easing gas demand, led to an oversupplied system, traders said. * Weekend gas price was down by 0.50 pence at 43.50 pence/therm by 0840 GMT. * Day-ahead gas fell by 1.13 pence to 45.10 pence per therm. * A long system caused by easing demand, forecasts for warmer temperatures and high wind power generation were putting pressure on prompt prices, gas traders said. * Britain's gas system was oversupplied by 11.9 million cubic metres (mcm), with demand forecast at 194.0 mcm and supply at 205.9 mcm/day, National Grid (LSE: NG.L - news) data showed. * Average temperatures on Wednesday could reach 17 degrees Celsius in southern Britain and are forecast to rise by 3 degrees by the end of the weekend, data from Britain's Met Office showed. * Peak wind power generation is forecast at 9.0 gigawatts (GW) on Wednesday and is expected to fall to 8.0 GW on Thursday, Elexon data showed. * Gas supply from Norway to Britain fell to 41 mcm/day on Wednesday from 44 mcm/day, hit by a further 6 mcm/day decrease in flows through the Langeled pipeline. Langeled was supplying gas at only 18 percent of its maximum capacity. * In the Dutch gas market, the day-ahead gas price at the TTF hub fell by 0.30 euro to 17.33 euros per megawatt hour (MWh). * The benchmark Dec (Shanghai: 600875.SS - news) -17 EU carbon contract was 0.06 euro higher at 7.45 euros a tonne. * The November gas contract rose by 0.29 pence to 50.04 pence per therm. * 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 Louise Heaven)