May 28 (Reuters) - British wholesale gas prices continued to
fall on Friday morning as warmer weather and stronger wind
lowered demand, while lower carbon prices weighed as well.
* The day-ahead contract fell by 4.10 pence to
61.00
pence per therm by 0842 GMT.
* The weekend contract contract was down 5.90
pence at
61.10 p/therm.
* The June contract was 0.65 pence lower at
61.75
p/therm and the July contract was down 3.50 pence
at 60.50 p/therm.
* The drivers were forecasts for warmer weather and more
wind next
week, which would lower demand, analysts said.
* Britain should see strong injections into storage next
week
despite lower domestic production and maintenance of the Forties
Pipeline, analysts at Refinitiv said.
* Local distribution zone demand in Britain will drop to 76
million cubic metres (mcm) per day next week, compared to 130
mcm/day seen earlier this week, Refinitiv's analysts said.
* Gas-for-power demand could fall to 40 mcm/day next week
from 55
mcm/day at present, amid stronger wind power generation, they
added.
* Send-out of liquefied natural gas could also remain strong
in
the coming days, with four cargoes are expected to arrive to the
UK in the next five days.
* Carbon price moves may also provide some impact today,
Refinitiv
said.
* The Dutch gas contract for June was down 0.24
euro
at 24.80 euros per megawatt hour, while the July contract
fell by 1.10 euros to 24.65 euros per megawatt
hour.
* The benchmark Dec-21 EU carbon contract was down
0.68
euro at 51.16 euros a tonne.
* The equivalent Dec-21 British carbon contract
was 0.75
pound lower at 48.75 pounds a tonne.
(Reporting by Nora Buli in Oslo; editing by Nina Chestney)