UK GAS-Prices soar on cooler weather, low wind

Sept 13 (Reuters) - European wholesale gas prices rose on
Monday morning as forecasts of cooler weather and an extended
period of low wind output was expected to spur demand amid
ongoing supply tightness.

* The within-day contract was up 11.00 pence at
150.00 pence per therm by 0839 GMT.

* The day-ahead contract rose by 9.25 pence to
149.25
p/therm.

* The October contract rose by 5.40 pence to
151.00
p/therm, a new record level for the rolling front-month
contract, according to Refinitiv Eikon data.

* Traders said the weather would turn cooler and the current
spell
of low wind output could last longer than previously expected,
lifting gas demand for power generation and heating.

* The next two weeks will likely be quite calm and often
sunny
with little rain, Refinitiv meteorologist Georg Mueller said.

* "Especially the eastern parts could turn rather cool
though
towards the end of the month," he added.

* British gas-for-power demand for Tuesday was revised up by
10
million cubic metres (mcm) to 64 mcm/day from previous
forecasts, according to Refinitiv Eikon data.

* Local distribution zone (LDZ) demand, which reflects
mostly
heating, is set to rise from 69 mcm/day the next two days to 77
mcm/day next week.

* Peak wind power generation is forecast at 3.5 gigawatts
(GW) on
Monday, dropping to 3.1 GW on Tuesday, Elexon data showed.

* Britain's gas system was slightly under-supplied, with
demand
forecast at 176 mcm and supply at 173 mcm/day, National Grid
data showed.

* The lack of liquid natural gas (LNG) cargoes was also a
bullish
driver, while maintenance outages in Norway should result in
lower pipeline flows on Tuesday, analysts at Refinitiv said.

* The Dutch TFF day-ahead contract rose by 2.27
euros
to 60.30 euros per megawatt hour.

* The TTF October contract rose by 2.71 euros
to
60.50 euros per megawatt hour, a new all-time high.

* The benchmark Dec-21 EU carbon contract was up
by 1.18
euros at 62.10 euros per tonne.
(Reporting by Nora Buli in Oslo; editing by Nina Chestney)

National Grid