March 22 (Reuters) - British wholesale gas prices were mixed
on Monday morning, with lower supplies of Norwegian gas and
liquefied natural gas (LNG) offset by expectations that rising
wind output would curb demand from the power sector.
* The within-day contract was 0.15 pence lower
at 43
pence per therm by 0902 GMT.
* The day-ahead contract was up 0.65 pence at
42.75
pence per therm.
* The British gas system was over-supplied by around 6 mcm,
with
demand forecast at 256 mcm and flows at 262 mcm/day, National
Grid data showed.
* Refinitiv's analyst took a bearish view, with
gas-for-power
demand for Tuesday forecast at 51 mcm/day, down 16 mcm from a
previous forecast.
* Peak wind generation is forecast at 3.7 gigawatts (GW) on
Monday
but rising sharply to 12.1 GW on Tuesday, National Grid data
showed.
* Gas flows from Norway should also improve on Tuesday
following
the end of a 19 mcm/outage at the Troll gas field, Refinitiv's
analysts said.
* Higher local distribution zone consumption of 6 mcm/day
for
Tuesday from the previous forecast provided some upside risk on
the day-ahead, and sendout of LNG would also ease amid fewer
arrivals in the coming days, they added.
* The April contract was up by 0.20 pence at
43.20
p/therm.
* The Dutch April price at the TTF hub edged up
0.15
euro to 17.42 euros per megawatt hour.
* "I would have expected some weakness looking at the
temperature
increase," a trader said, adding firmer CO2 and coal prices
offered some support, however.
* Temperatures would mostly be above normal values for the
next
two weeks, Refinitiv meteorologist Georg Mueller said.
* The benchmark EU carbon price traded at 42.27
euros a
tonne, up 0.30 euros.
* European coal deliveries for 2022 rose $1.20
to
$72.50 per tonne, supported by flooding in key producer state
Australia.
(Reporting by Nora Buli; Editing by Kirsten Donovan)