Prices rise on undersupply, carbon

05 Mar, 2019

Day-ahead gas rose 0.30 pence to 44.20 p/therm at 0832 GMT

Within-day gas price up 0.45 pence to 44.40 p/therm

The April contract rose 0.05 pence to 43.50 p/therm

The undersupplied system and the rise in carbon prices pushed gas contracts up, a British gas trader said

"Fundamentals remain bearish, but with stronger carbon... gas should move up," the trader said

The benchmark Dec-19 EU carbon contract rose by 0.14 euro to 23.27 euros per tonne

The system was undersupplied with demand in Britain forecast at 272.2 million cubic metres (mcm) per day and flows at 264.5 mcm/day, National Grid data showed

Norwegian gas flows to Britain rose to 97 mcm/day from 96 mcm/day on Monday

Average daily temperatures in Britain are expected to be 6.4 degrees Celsius on Tuesday and are forecast to rise to 9.1 C on Wednesday

*Peak wind power generation is forecast at 7.3 gigawatts (GW) on Tuesday, rising to 8.6 GW on Wednesday, National Grid data showed

Britain received one liquefied natural gas (LNG) tanker on Monday and expects two more on Tuesday

Copyright Reuters, 2019

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