April 18, 2017 / 9:01 AM / 2 years ago

UK GAS-Prompt prices rise slightly on higher demand

LONDON, April 18 (Reuters) - British prompt gas prices rose slightly on Tuesday morning as demand rose well above normal levels for this time of year. * The within-day contract rose by 0.35 pence to 38.90 pence per therm at 0833 GMT. * Day-ahead gas was 0.26 pence higher at 39.05 pence per therm. * The system was almost balanced, with demand forecast at around 265 million cubic metres (mcm) and flows at 264 mcm/day. * However, National Grid data shows demand is around 40 mcm above the seasonal norm. * Despite today's higher-than-normal demand, temperature forecasts point towards lower-than-normal seasonal demand into early May, traders said. * Met Office forecasts show temperatures in a range of 13-15 degrees Celsius in the south east of the country this week. * The NSMP St Fergus gas terminal will undergo an outage from Wednesday at 0500 BST for 24 hours, reducing capacity by 8.5 mcm/day. * Gas for May delivery inched down by 0.02 pence to 38.80 pence per therm. * There is a lot of gas available which cannot be injected into the country's biggest gas storage site, Rough, due to a prolonged outage lasting into next spring, traders said. * In the Dutch gas market, day-ahead gas price at the TTF hub inched up by 0.01 euro to 15.98 euros per megawatt hour. * Benchmark Dec-17 EU carbon contract was 0.07 euro lower at 4.88 euros a tonne. * Thomson Reuters analyst view: here (Reporting by Nina Chestney)

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