UK GAS-Prices fall on weaker demand from power plants

LONDON, May 19 (Reuters) - British wholesale gas prices fell
on Wednesday morning as forecasts of strong output from the
country’s wind farms curbed demand for gas from power stations.

* The within-day contract was down 1.50 pence
at
63.50 p/therm by 0902 GMT.

* The day-ahead contract was down 2.25 p at
62.25
p/therm.

* Analysts at Refinitiv forecast gas demand for power at 58
million cubic metres (mcm) on Wednesday, falling to 37 mcm on
Thursday.

* The Thursday forecast was 22 mcm lower than previously
expected.

* Peak wind power generation is forecast at 1.9 gigawatts
(GW) on
Wednesday, rising to 12.5 GW on Thursday, Elexon data showed.

* “Wind power production is expected to ramp up sharply over
the
upcoming days and then drop below normal from the last week of
May until the end of June,” analysts at Refinitiv said in a
daily research note.

* Britain’s gas system was almost balanced with demand
forecast at
201.5 mcm and flows at 203.8 mcm/day, National Grid data showed.

* The June contract was down 2.45 p at 61.40
p/therm.

* The day-ahead gas price at the Dutch TTF hub
was
down 1.30 euro at 24.35 per megawatt hour.

* The benchmark Dec-21 EU carbon contract was down
0.72
euro at 52.38 euros per tonne.

* First trading also began in Britain’s carbon market with
the
Dec-21 contract at 48.50 pounds per tonne.
(Reporting By Susanna Twidale; editing by Nina Chestney)