UK GAS-Prices decline on forecasts for higher wind output

LONDON, March 3 (Reuters) - British wholesale gas prices
fell on Wednesday morning as forecasts showed an uptick in wind
power generation from tomorrow.

* The within-day contract was down 1.25 pence
at
44.00 p/therm by 0907 GMT.

* The day-ahead contract was 1.45 pence lower at
43.75
p/therm.

* "Wind output is set to go up a bit after low speeds for a
few
days," a gas trader said.

* Peak wind generation is forecast at 1.2 gigawatts (GW) on
Wednesday, rising to 6.1 GW on Tuesday, out of total metered
capacity of around 18 GW, Elexon data showed.

* Higher wind output typically lowers demand for gas from
power
plants.

* "Tomorrow we expect higher UK local distribution zone
(LDZ)consumption as it ramps up towards the weekend when we
should see a colder spell," said gas analysts at Refinitiv.

* "However, an increase in LDZ should be compensated by
lower
gas-for-power demand in the UK supported by a slight recovery in
wind power generation from tomorrow," they added.

* Total liquefied natural gas send-out to Britain is
nominated at
71 mcm, slightly lower than 79 mcm yesterday, Refinitiv Eikon
data showed.

* The system was almost balanced with demand forecast at 320
million cubic metres (mcm) and supply at 318 mcm/day, National
Grid data showed.

* The April contract was down 0.55 pence at
39.75
p/therm.

* In continental Europe, a colder spell is also forecast but
higher demand could be offset by strong LNG supply due to heavy
cargo volumes in France.

* The April gas price at the Dutch TTF hub was
down
0.25 euro at 15.55 euros per megawatt hour.

* The benchmark Dec-21 EU carbon contract was 0.43
euro
lower at 37.92 euros a tonne.
(Reporting by Nina Chestney)