Prices rise on high demand and Norwegian outages

Nov 3 (Reuters) - British and Dutch wholesale gas prices rose on Thursday morning as consumption increased because of cold weather, with maintenance in Norwegian gas facilities also supporting prices.

In Britain, the gas contract for immediate delivery rose by 48 pence to 175 pence/therm by 0934 GMT, while the contract for next-day delivery was up 45.50 pence at 175 pence/therm.

In the Dutch market, the day-ahead contract gained 39.50 euros to 82 euros per megawatt hour (MWh), while Dutch front-month contract, the European benchmark, was almost unchanged day on day at 133.50 MWh.

"Demand is increasing due to cold weather and strong drop in German wind (power) generation," said Engie EnergyScan analysts.

Refinitiv analysts said European weather is expected to be cool and unsettled in the coming days, with some showers or moderate rain, adding that "warmer conditions expected next week should curb any excessive gains" in gas prices.

The inability of Norwegian supply to increase significantly because of unplanned outages also boosted prices, the EnergyScan analysts said.

Meanwhile, eastbound gas flows via the Yamal-Europe pipeline to Poland from Germany rose while flows of Russian gas to Europe via Ukraine were stable.

In the UK, the gas system was undersupplied by 9.4 million cubic metres (mcm) per day, National Grid data showed.

Full gas storage sites across Europe and plentiful liquefied natural gas (LNG) supply continued to cap price gains, analysts said.

Peak wind power generation in the UK is forecast at 18 gigawatts (GW) on Thursday but will drop sharply to 10 GW on Friday, out of total metered capacity of about 20 GW, Elexon data showed.

Stronger wind power output typically reduces demand for gas from power plants.

UK power generated by wind reached 20 GW for the first time, National Grid Electricity System Operator (ESO) said on Wednesday.

In the European carbon market, the benchmark contract was 0.48 euros down at 76.22 euros a tonne.