Prices edge up on increased cooling demand

was up by 0.60 euro at 35.10 euros per megawatt
hour (MWh) by 0912 GMT, while the August contract 
was up 0.49 euro at 35.49 euros/MWh, LSEG data showed. 
In the British market, the August contract              rose 
by 2.45 pence to 84.45 pence per therm. 
Temperatures in north-west Europe are expected to peak tomorrow, with the daily average up to 22.5 degrees Celsius, 
before decreasing to around a degree above the seasonal norm by 
Friday, LSEG data showed. 
UK gas demand is expected to fall sharply due to the forecast of stronger wind speeds, with wind power generation 
expected to triple by Friday this week, while German wind power 
production is expected to rise gradually above the seasonal 
average by the end of this week, said LSEG gas analyst Tomasz 
Marcin Kowalski. 
On the supply side, Norwegian exports to the continent are expected to increase from tomorrow due to high Norwegian field 
production and there will be a limit on export capacity through 
the Langeled pipeline to Britain until July 7. 
"TTF July 2024 prices closed yesterday slightly above their one-year average and almost at the coal switching average 
level," said analysts at Engie EnergyScan, adding that they were 
still trading around this level this morning. 
"This is a major test of whether the market thinks additional destruction of gas demand from power plants is needed 
to balance the European gas market," they added. 
In the European carbon market, the benchmark contract edged up by 0.65 euro to 68.57 euros per metric ton.