UK GAS-Prices rise on low wind power and supply dip

LONDON, Aug 2 (Reuters) - British wholesale gas prices rose
on Monday morning as forecasts for low output from the
country’s wind farms led to increased demand for power from
gas-fired plants while both domestic supply and imports from
Norway fell.

* The within-day contract rose 6.40 pence to 107.50 p/therm
by
0904 GMT.

* The day-ahead contract was up 3.25 pence at
107.00
p/them.

* Peak wind power generation is forecast at a little less
than 1
gigawatt (GW) on Monday and 1.2 GW on Tuesday, Elexon data
showed, compared with capacity near 20 GW.

* Gas-fired power plants contributed almost 50% of Britain’s
electricity supply on Monday, with nuclear at about 13% and wind
power contributing less than 2%, National Grid data showed.

* Gas flows from Norway through the Langeled pipeline were
expected at 39 million cubic metres (mcm), down 12 mcm from the
previous day, while UK continental shelf supply was forecast at
86 mcm, down 14 mcm, Refinitiv Eikon data showed, hit by planned
and unplanned outages.

* Traders said attention was also focused on auctions of
Ukraine-Russia gas pipeline capacity expected later on Monday.

* “We anticipate Gazprom will continue in line with its
recent
strategy and refrain from booking any additional capacity at
today's auctions ... This could propel prices even higher,”
Refinitiv analysts said in a daily research note.

* The September gas price at the Dutch TTF hub
was up
1.45 euros at 42.35 euros per megawatt hour.

* The benchmark Dec-21 EU carbon contract was up
1.53
euros at 54.84 euros a tonne.

* The benchmark Dec-21 British carbon contract was
up
1.02 pounds at 45.00 pounds a tonne.
(Reporting by Susanna Twidale
Editing by David Goodman
)