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UK GAS-Prompt prices jump by around 14 percent

Reuters - UK Focus

Sept 5 (Reuters) - The British spot gas price jumped by around 14 percent on Monday, fully recovering from last week's seven-year low as domestic supply was hit by unplanned outages.

Gas for immediate delivery opened up 13.5 percent at 29.50 pence per therm, while the day-ahead price surged by almost 14 percent to 29 pence/therm from last Friday's close.

Britain's gas market was undersupplied by 36 million cubic metres (mcm) on Monday morning, with demand forecast to be at 225 mcm and supply at 189 mcm, National Grid (LSE: NG.L - news) data showed, as deliveries to St Fergus and Bacton Seal terminals were reduced by outages. (Reporting by Nerijus Adomaitis; editing by Jason Neely)