UK GAS-Prices fall on warmer weather, higher Langeled flows

LONDON, May 24 (Reuters) - British wholesale gas prices fell
on Monday morning as warmer weather was forecast for the rest of
the month and as Langeled flows ramped up.

* The within-day contract edged down by 0.25
pence to
65.75 pence per therm by 0857 GMT.

* The day-ahead contract fell by 3.50 pence to
63.50
p/therm.

* Average temperatures are expected to be warmer for the
rest of
the month than previously, which lowers heating demand.

* The system was balanced, with both supply and demand
forecast at
nearly 196 million cubic metres (mcm).

* Flows through the Langeled pipeline from Norway increased
by 27
mcm to 65 mcm, but UK domestic production was down by 30 mcm at
54 mcm due to outages.

* Wind power production is expected to drop below normal
over the
next couple of days, Refinitiv gas analysts said, which could
lower demand for gas from power plants.

* Peak wind generation is forecast at 9 gigawatts (GW) on
Monday,
falling to 6.8 GW on Tuesday, out of total metered capacity of
nearly 20 GW, Elexon data showed.

* The June gas price at the Dutch TTF hub edged
down
by 0.05 euro to 24.85 euros per megawatt hour.

* The benchmark Dec-21 EU carbon contract was 0.79
euro
higher at 52.54 euros a tonne and its UK market equivalent
was up 0.61 pounds at 50.50 pounds a tonne.
(Reporting by Nina Chestney)