UK GAS-Within-day prices edge higher as cooler weather boosts demand

LONDON, Dec (Shanghai: 600875.SS - news) 27 (Reuters) - British wholesale gas prices for within-day delivery edged higher on Wednesday morning as cold weather boosted demand, leading to an undersupplied market. * The within-day gas price was up 0.20 pence at 55.45 p/therm by 1027 GMT. * Wednesday's gas system was undersupplied by 6.2 million cubic metres (mcm), with demand forecast at 314.5 mcm and flows at 308.3 mcm/day, National Grid (LSE: NG.L - news) data showed. * Britain's Met Office forecast temperatures of zero degree Celsius and snow for parts of the country. * Natural gas is used to heat as much as 80 percent of British homes, which make up 35 percent of demand. * Further out on the curve, however, the price slipped due to expectations that temperatures would rise above seasonal norms next month. * "The beginning of January is still forecast normal-to-mild with … consumption close to normal levels," analysts at Thomson Reuters said in a daily market report. * The January 2018 contract was down 1.85 p at 55.00 p/therm. * The February 2018 contract was down 2.60 p at 55.40 p/therm. * The day-ahead gas price at the Dutch TTF hub was down 0.60 euro at 19.25 euros per megawatt-hour. * The benchmark Dec-18 EU carbon contract was down 0.01 euro at 8.18 euros per tonne. * Thomson Reuters (Dusseldorf: TOC.DU - news) analyst view: http://emea1.apps.cp.extranet.thomsonreuters.biz/cms/?pageid=united-kingdom-gas (Reporting by Susanna Twidale, editing by Louise Heavens)