LONDON, May 20 (Reuters) - British wholesale gas prices were
mostly higher on Thursday morning, correcting the previous day's
falls, amid lower flows from Norway and colder-than-normal
weather.
* The within-day contract was 0.25 pence higher
at
60.25 pence per therm by 0820 GMT.
* The day-ahead contract was also up by 0.25
pence at
60.00 p/therm and the June contract was up 1.90
pence at 59.60 p/therm.
* Traders said prices were correcting after dropping on
Wednesday
afternoon.
* Flows through the Langeled pipeline from Norway dropped
yesterday afternoon to 46 million cubic metres (mcm) and are
still at that level due to outages in Norway.
* Colder-than-normal weather should also continue until the
end of
May in Britain and north-west Europe.
* However, the system was around 16 million cubic metres
(mcm)
over-supplied, with demand forecast at 172 mcm and supply at 188
mcm/day, National Grid data showed.
* Gas-for-power demand has dropped due to stronger wind
output.
* Peak wind generation is forecast at 13.1 gigawatts (GW) on
Thursday and 13.4 GW on Friday, out of total metered capacity of
around 20 GW, Elexon data showed.
* The contract for working days next week fell
by
5.25 pence to 60.25 p/therm.
* The June gas price at the Dutch TTF hub was
up 0.20
euro at 23.55 euros per megawatt hour.
* The benchmark Dec-21 EU carbon contract was 1.57
euro
higher at 51.25 euros a tonne.
(Reporting by Nina Chestney)