LONDON: Prompt natural gas prices in Britain fell on Monday morning as solid supply from Norway led to a broadly balanced market despite cool weather boosting demand.
Prices for within-day delivery were trading at 52 pence per therm at 1020 GMT, down 1.35 pence since their last settlement.
Prices for delivery on Tuesday were also 1.35 pence lower at 52 pence per therm.
With supply flows at about 311.2 million cubic metres (mcm) per day and demand expected to be about 313 mcm, the system was almost balanced, National Grid data showed.
Monday's demand was around 14 percent above the seasonal norm of 278 mcm, the data showed, however, while gas supply rose to meet demand for heating.
"Langeled flows have increased back to capacity levels over the last few days, after being affected last week by an unplanned outage at Kollsnes Gas Processing Plant," analyst at Thomson Reuters Point Carbon said in a daily research note.
Norwegian imports via the Langeled pipeline were near full capacity at 70 mcm/d on Monday morning, National Grid data showed.
Langeled is Britain's main sub-sea gas import route.
Temperatures in Britain were expected at -1 to 4 degrees on Monday and Tuesday, Met Office forecasts showed, with warmer weather, of up to 13 degrees expected by Friday.
In the Dutch TTF gas market, prices also were lower. Day-ahead TTF gas was down 0.77 euros at 21.93 euros per megawatt hour.
On Europe's carbon market, benchmark EU Allowances (EUA) were down 0.19 euros at 7.27 euros per tonne.
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