LONDON, Nov 25 (Reuters) - British wholesale gas prices rose
on Wednesday morning as colder temperatures boosted gas demand
for heating and low wind speeds increased demand from power
plants.
* The day-ahead contract was up 1.35 pence at
40.00
p/therm by 1044 GMT.
* The weekend contract was up 1.35 p at 40.00
p/therm.
* Traders said wind power output was expected to plummet
from
Thursday, while colder temperatures were also forecast for the
rest of the week.
* Peak wind power generation is forecast at 7.9 gigawatts
(GW) on
Wednesday, dropping to 1.6 GW on Thursday, Elexon data showed.
* Average temperatures in Britain were forecast at 8.7
degrees
Celsius on Wednesday, falling to 4.6C on Thursday, Refinitiv
Eikon data showed.
* Analysts at Refinitiv forecast local distribution zone
(LDZ)
demand, which is primarily used for heating, at 182 million
cubic metres (mcm) for Wednesday and 208 mcm for Thursday, up 4
mcm and 25 mcm respectively from the previous forecasts.
* “Temperatures are forecast to drop below seasonal norms
lifting
UK gas consumption strongly up on day-ahead,” analysts at
Refinitiv said in a daily research note
* Britain’s gas system was slightly undersupplied with
demand
forecast at 275.7 mcm and supply forecast at 274.3 mcm/day,
National Grid data showed.
* Further out on the curve prices also rose.
* The December contract was up 1.06 p at 40.00
p/therm.
* The day-ahead gas price at the Dutch TTF hub
rose
0.28 euros at 14.18 per megawatt hour.
* The benchmark Dec-20 EU carbon contract was up
0.10
euro at 27.72 euros per tonne.
(Reporting By Susanna Twidale; editing by Nina Chestney)