Feb 25 (Reuters) - Prompt British wholesale gas prices edged
higher on Thursday morning, with temperatures set to drop and
demand expected to rise from power plants.
* The within-day contract was up 0.20 pence at
41.00
p/therm by 1044 GMT.
* The day-ahead contract was up 0.55 p at 41.55
p/therm.
* Traders said power output from the country’s wind farms
was
expected to fall on Friday, ramping up demand for gas from
gas-fired power stations while heating demand was also expected
to increase as temperatures fall.
* Peak wind power generation is forecast at 11 gigawatts
(GW) on
Thursday, falling to 5.8 GW on Friday, Elexon data showed.
* "Temperatures both in the UK and in NWE (Northwest Europe)
are
forecast to drop further tomorrow even switching below seasonal
norms in the UK," analysts at Refinitiv said in a daily research
note.
* The Refinitiv analysts forecast local distribution zone
demand,
which is primarily used for home heating, at 169 million cubic
metres (mcm) for Thursday and 179 mcm for Friday.
* The forecasts were 20 mcm and 9 mcm higher, respectively,
than
previous expectations.
* The March contract was down 0.06 p at 41.40
p/therm.
* The day-ahead gas price at the Dutch TTF hub
was
down 0.08 euro at 16.17 per megawatt hour.
* The benchmark Dec-21 EU carbon contract was down
0.16
euro at 38.99 euros per tonne.
(Reporting By Susanna Twidale; editing by Emelia
Sithole-Matarise)