UK GAS-Prices rise due to lower Norwegian flows

24 May, 2019

Within-day gas price was up 0.75 pence at 30.00 p/therm at 0818 GMT

Day-ahead gas price rose 0.60 pence at 30.00 p/therm

Lower flows through the Langeled pipeline, Norway's biggest gas feeder to Britain, weighted on prices, one gas trader said

Norwegian gas flows to Britain on Friday fell to 34 million cubic metres (mcm) per day from 52 mcm/day on Thursday

Despite the lower Norwegian flows, the system saw a slight oversupply of 2.7 mcm.

Demand is forecast at 199.3 million cubic metres (mcm) and supply at 202 mcm/day, National Grid data shows

Average daily temperatures are forecast at 13.8 degrees Celsius for Friday and are expected to stay flat during the weekend, before falling to 10.9C on Monday, Refinitiv Eikon data showed

Peak wind generation is forecast at around 4.8 gigawatts (GW) on Friday and 2.8 GW on Saturday out of a total metered capacity of around 12 GW, Elexon data shows

The June contract was up 0.35 pence at 30.35 p/therm

Day-ahead gas price at the Dutch TTF hub was 0.13 euro lower at 12.32 euros per megawatt hour

Benchmark Dec-19 EU carbon contract fell 0.11 euro to 26.95 euros a tonne.

Copyright Reuters, 2019

Read Comments