UK GAS-Prices fall on higher wind output, LNG supply

LONDON, Dec 3 (Reuters) - British prompt wholesale gas
prices fell on Thursday morning as higher wind output was
expected to lead to lower gas-for-power demand and liquefied
natural gas (LNG) send-out rose.

* Within-day gas price was down 1.00 pence at
42.50
p/therm, by 0914 GMT.

* The day-ahead contract was down 1.45 pence at
42.25
p/therm.

* Higher wind power output is likely to lower day-ahead
gas-for-power demand and there is higher LNG send-out, Refinitiv
gas analysts said.

* Peak wind generation is forecast at 8 gigawatts (GW) on
Thursday, rising to 13.2 GW on Friday, out of total metered
capacity of around 18 GW, Elexon data showed.

* Total LNG sendout to Britain is nominated at 83 mcm/d, 7
mcm
higher than yesterday due to higher sendout from the South Hook
terminal, Refinitiv Eikon data showed.

* The system was slightly oversupplied by 7 million cubic
metres
(mcm), with demand forecast at 327 mcm and supply at 334
mcm/day, National Grid data showed.

* However, cold temperatures and therefore higher demand for
heating could provide some upside support to prices.

* In both Britain and north-west Europe, below seasonal
normal
temperatures are forecast for the rest of this week and into
next week.

* The weekend contract was 0.50 pence lower at
42.75
p/therm.

* In the Dutch gas market, the January price
was 0.50
euro lower at 14.50 euros per megawatt hour.

* The benchmark Dec-20 EU carbon contract was down
0.20
euro at 29.35 euros a tonne.
(Reporting by Nina Chestney)