AIM IP specialist Tekcapital to sell or float all four portfolio companies 'within 2 years'. Watch the full video here

Less Ads, More Data, More Tools Register for FREE

UK GAS-Prompt prices rise on higher gas-for-power demand

Thu, 6th Aug 2020 10:12

LONDON, Aug 6 (Reuters) - Prompt British wholesale gas
prices rose on Thursday morning, supported by higher gas demand
for power generation amid weak wind production.

* The day-ahead contract was up 0.80 pence at
17.00
pence per therm by 0900 GMT.

* The weekend contract was 2.00 p up at 16.50 p
per
therm.

* Gas demand for power generation was expected to rise to 52
mcm
on Thursday from 36 mcm on Wednesday, 14 mcm higher than
previously forecast, Refinitiv data showed.

* The rise in gas-for-power demand is taking place amid low
wind
production.

* Peak wind generation is predicted at 4.5 gigawatts (GW) on
Thursday and 4.4 GW on Friday out of 18 GW capacity, Elexon data
showed.

* Temperatures are forecast to surge in some parts of
Britain on
Friday, potentially creating cooling demand.

* The UK gas system was 6.1 mcm oversupplied on Thursday,
with
demand forecast at 149.5 mcm and supply at 155.6 mcm, National
Grid data showed.

* Prices across Europe are also rising this week on the back
of
lower Russian flows via the Velke Kapusany border point and a
jump on the Henry Hub in the United States, where liquefied
natural gas (LNG) companies boosted their exports.

* On the curve, the December contract rose by
0.25 p
to 36.00 p/therm.

* The day-ahead gas price at the Dutch TTF hub
was up
0.32 euros at 7.00 euros per megawatt hour.

* The benchmark Dec-20 EU carbon contract was up
0.43
euros at 27.20 euros per tonne.

* The Brent crude oil benchmark eased on Thursday
after
rising to its highest since March 6 in the previous session.
(Reporting by Ekaterina Kravtsova; Editing by Jan Harvey)

More News

PRESS: Rolls-Royce restarts Bergen sale process after Norway veto

PRESS: Rolls-Royce restarts Bergen sale process after Norway veto

Today 20:18

LIVE MARKETS-Q1 profits continue to leapfrog expectations

* Major U.S. indexes rise; Nasdaq leads with gain of ~0.7%* All major S&P sectors higher: Energy leads* Dollar down; gold rises; crude edges higher* U.S. 10-Year Treasury yield fell to low of 1.4690%, now ~1.58%May 7 - Welcome to the home for real-t...

Today 19:57

DIRECTOR DEALINGS: Ocado Non-Exec Rausing buys GBP26 million worth

DIRECTOR DEALINGS: Ocado Non-Exec Rausing buys GBP26 million worth

Today 19:36

IN BRIEF: DP Aircraft shares jump on deal with Thai lenders

IN BRIEF: DP Aircraft shares jump on deal with Thai lenders

Today 19:32

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.