Advertisement
UK markets closed
  • FTSE 100

    8,420.26
    -18.39 (-0.22%)
     
  • FTSE 250

    20,749.90
    -72.94 (-0.35%)
     
  • AIM

    794.02
    +1.52 (+0.19%)
     
  • GBP/EUR

    1.1678
    +0.0023 (+0.20%)
     
  • GBP/USD

    1.2706
    +0.0035 (+0.28%)
     
  • Bitcoin GBP

    52,589.81
    +1,183.92 (+2.30%)
     
  • CMC Crypto 200

    1,364.52
    -9.33 (-0.68%)
     
  • S&P 500

    5,303.27
    +6.17 (+0.12%)
     
  • DOW

    40,003.59
    +134.21 (+0.34%)
     
  • CRUDE OIL

    80.00
    +0.77 (+0.97%)
     
  • GOLD FUTURES

    2,419.80
    +34.30 (+1.44%)
     
  • NIKKEI 225

    38,787.38
    -132.88 (-0.34%)
     
  • HANG SENG

    19,553.61
    +177.08 (+0.91%)
     
  • DAX

    18,704.42
    -34.39 (-0.18%)
     
  • CAC 40

    8,167.50
    -20.99 (-0.26%)
     

UK GAS-Within-day down on wind and Norway flows, day-ahead up on colder weather

Sept 21 (Reuters) - The British within-day gas price fell on Friday due to increased imports from Norway and strong wind power production, but forecasts for approaching colder weather helped lift the day-ahead contract.

* Within-day gas price down 1.10 pence at 74.50 pence per therm by 0904 GMT

* Day-ahead gas rose by 1.85 pence to 75.75 pence per therm

* Strong wind on Friday and an increase in gas flows from Norway were behind the price fall in the within-day contract, a British gas trader said

* As temperatures and wind output are both forecast lower on Monday, the day-ahead saw gains, added the trader.

ADVERTISEMENT

* Peak wind generation was forecast to be strong on Friday at 10.1 gigawatt (GW), but output is expected to decline a bit from the following day

* Strong output from wind turbines typically reduces demand for gas-fired power generation

* Gas supply from Norway to Britain rose to 68 mcm per day, 11 mcm/day higher than Thursday, as flows through the Langeled pipeline increased.

* The market is oversupplied, with demand forecast at 146.0 million cubic metres (mcm) and flows at 157.5 mcm/day, National Grid data show

* Average daily temperatures in Britain are seen around 12.7 degrees Celsius on Friday and are forecast to fall to 10.1 C on Monday

* October contract up 0.36 pence at 74.75 p/therm

* In the Dutch gas market, the day-ahead price at the TTF hub was up 0.27 euro at 28.50 euros per megawatt hour

* The benchmark Dec (Shanghai: 600875.SS - news) -18 EU carbon contract rose by 0.08 euro to 22.11 euros a tonne (Reporting by Lefteris Karagiannopoulos in Oslo; Editing by Adrian Croft)