UK GAS-Prices up on weak wind, low stocks and expected Norwegian flow drop

LONDON, June 29 (Reuters) - British prompt wholesale gas
prices edged up on Tuesday morning, amid an expected drop in
Norwegian flows from tomorrow, weak wind output and low stocks
in storage.

* The within-day contract edged up by 0.30
pence to
80.00 pence per therm by 0800 GMT.

* The day-ahead contract was up 1.10 pence at
81.00
p/therm.

* Norwegian flows are firmer than the previous day but a
production cut is expected from tomorrow at the Aasta Hansteen
field due to maintenance.

* Wind power continues to be weak, which typically raises
demand
for gas from power plants.

* Peak wind generation is forecast at 3.5 gigawatts (GW)
today and
3.3 GW tomorrow, out of total metered capacity of nearly 20 GW,
Elexon data showed.

* Liquefied natural gas send-out is flat, while storage
inventories are low, which are also bullish factors, a gas
trader said.

* However, the gas system was around 13 million cubic metres
(mcm)
over-supplied, with demand forecast at 151 mcm and supply at 164
mcm/day, National Grid data showed.

* The July gas price at the Dutch TTF hub was
0.50
euro higher at 33.00 euros per megawatt hour.

* The benchmark Dec-21 EU carbon contract inched
up by
0.10 euro to 55.60 euros a tonne.

* The benchmark Dec-21 British carbon contract was
down
by 0.15 pounds to 47.00 pounds a tonne.
(Reporting by Nina Chestney)

National Grid