British wholesale gas prices rose on Thursday as a decrease in flows from Norway created a supply deficit, and as forecasts pointed to a slight decline in UK temperatures in coming days.
* Within-day gas rose by 1.75 pence to 64.00 pence per therm as of 0900 GMT.
* Day-ahead gas was up 0.95 pence at 63.75 pence per therm.
* A decrease in gas supplies from Norway and expected colder weather were behind the price increases, a trader said.
* Norwegian gas flows to Britain fell to 81 million cubic metres (mcm) per day, from 91 mcm/day on Wednesday, as gas flows through the Langeled pipeline decreased.
* Consequently, the system is undersupplied with demand forecast at 235.8 mcm/day and flows at 229.6 mcm/day, National Grid data shows.
* Average daily temperatures in Britain are expected to be 10.3 degrees Celsius on Thursday, falling to 7.7 C on Friday and to 8.4 C over the weekend.
* Prices rose despite strong power output from wind turbines and an expected stream of vessels arriving with liquefied natural gas (LNG) until the end of next week.
* Peak wind generation is forecast at 11.2 gigawatts (GW) on Thursday and expected to rise to 11.3 GW on Friday, nearing a total metered capacity of around 12.1 GW.
* Britain expects five LNG vessels by the end of next week .
* December gas contract rose by 0.93 pence to 65.70 p/therm.
* Day-ahead Dutch gas at the TTF hub rose by 0.07 euro to 24.40 euros per megawatt hour.
* The benchmark Dec-18 EU carbon contract rose by 0.10 euro to 19.39 euros a tonne.
Comments
Comments are closed.