UK GAS-Within-day up on very low wind output levels
LONDON, July 6 (Reuters) - British gas for immediate delivery rose on Friday morning as very low wind output raised demand for gas from power plants.
* Within-day contract was up by 0.80 pence at 57.95 pence per therm at 0858 GMT
* Gas-for-power demand has quite strong this week due to low wind power output, which has been supporting gas prices.
* Peak wind generation on Friday is forecast at just 848 megawatts (MW) and 943 MW on Saturday (Shenzhen: 002291.SZ - news) , Elexon data shows.
* Stronger coal prices have also been a bullish factor for European gas this week. Low water levels in the Rhine are hindering the restocking of coal at power plants.
* "Front-month European coal is being pushed up by low Rhein levels, which are making coal barge navigation difficult and exacerbating localised shortages at coal fired power plants," said Thomson Reuters (Dusseldorf: TOC.DU - news) gas analyst Oliver Sanderson.
* The day-ahead contract inched down by 0.10 pence to 57.40 p/therm.
* The August contract was 0.45 pence lower at 57.95 p/therm.
* The UK gas system is slightly oversupplied with flows forecast at 193 million cubic metres/day (mcm) and demand at 188 mcm, National Grid (LSE: NG.L - news) data shows
* Exports from continental Europe through the InterconnectorUK (IUK) pipeline remain strong at around 50 mcm. The IUK could return towards full export capacity of 55 mcm over the weekend especially as the Yamal-Europe gas pipeline is due to shut for maintenance next week, analysts said.
* The Forties pipeline, SAGE midstream pipeline and other fields will undergo maintenance in August.
* Day-ahead gas at the Dutch TTF hub inched up by 0.05 euro to 22.40 euros per megawatt hour.
* The benchmark Dec (Shanghai: 600875.SS - news) -18 EU carbon price was 0.04 euro lower at 15.64 euros a tonne. (Reporting by Nina Chestney)