LONDON, Jan 29 (Reuters) - British wholesale gas prices were
mostly up on Friday morning due to expectations of colder
temperatures.
* The UK day-ahead contract was up 1.75 pence at
59.00
p/therm by 0954 GMT.
* The UK February contract was up 1.25 pence at
58.60
p/therm.
* Temperatures are above seasonal norms which has lowered
heating
demand but temperatures are expected to fall to an average 2.4
degrees Celsius on Saturday, from 7.4C today, Refinitiv Eikon
data showed.
* "Temperatures are expected to be lower than the previous
(forecasts) and are set to remain below the seasonal norm for
the majority of next month and out into early March," said Wayne
Bryan at Refinitiv.
* UK gas-for-power demand is also expected to increase by 17
million cubic metres (mcm) to 68 mcm on Saturday as wind speeds
go below season norms.
* Peak wind generation is forecast at 9.1 gigawatts (GW) on
Friday
and 10.1 GW the next day, Elexon data showed.
* The British gas system was over-supplied by 16 million
cubic
metres, with demand forecast at 289 mcm and supply at 305
mcm/day, National Grid data showed.
* In the Dutch gas market, the February contract
was
0.19 euro lower at 20.98 euros per megawatt hour.
* On the supply side, consultancy Energy Aspects said that
European gas storage levels, excluding Ukraine, will end this
October with 76 billion cubic metres (bcm) of storage, which
would be the lowest since 2013, when stocks ended the month at
75 bcm.
* Increases in liquefied natural gas (LNG) supply to Europe
are
expected from June as demand falls off seasonally in northeast
Asia, while Norwegian flows are expected to be flat.
* "We do not think that Europe will need to get end-October
stocks
up to around 100 bcm, which they reached in the last two years,"
the analysts said.
* The benchmark Dec-21 EU carbon contract ws 0.17
euro
lower at 33.78 euros a tonne.
(Reporting by Nina Chestney)