LONDON, Aug 14 (Reuters) - British wholesale gas prices
declined on Friday morning as demand for cooling ebbed and the
system was oversupplied.
* The day-ahead contract was down 0.10 pence at
18.65
pence per therm by 0854 GMT.
* The weekend contract was down by 0.47 pence at
18.23
pence per therm.
* Traders said a long system was weighing on prices, as well
as a
drop in demand for cooling due to lower temperatures.
* The system is oversupplied by 18 million cubic metres
(mcm),
with demand forecast at around 144 mcm and flows at 162 mcm/day,
National Grid data shows.
* The oversupply is due to some UK Continental Shelf fields
returning from maintenance outages and as the Langeled pipeline
from Norway was nominated at 41 mcm/day as an outage at the
SEGAL system continues.
* Peak wind generation is forecast at 2.7 gigawatts (GW) on
Friday
and 2.4 GW the next day, Elexon data shows, out of a total
metered capacity of 18 GW.
* The day-ahead gas price at the Dutch TTF hub
edged
up by 0.08 euro to 6.55 euros per megawatt hour.
* The benchmark Dec-20 EU carbon contract was flat
at
25.43 euros a tonne.
(Reporting by Nina Chestney)