British wholesale gas prices got a small boost on Tuesday due to a supply deficit in the system and a slight rise in carbon prices.
Day-ahead gas rose 0.30 pence to 44.20 p/therm at 0832 GMT
Within-day gas price up 0.45 pence to 44.40 p/therm
The April contract rose 0.05 pence to 43.50 p/therm
The undersupplied system and the rise in carbon prices pushed gas contracts up, a British gas trader said
"Fundamentals remain bearish, but with stronger carbon... gas should move up," the trader said
The benchmark Dec-19 EU carbon contract rose by 0.14 euro to 23.27 euros per tonne
The system was undersupplied with demand in Britain forecast at 272.2 million cubic metres (mcm) per day and flows at 264.5 mcm/day, National Grid data showed
Norwegian gas flows to Britain rose to 97 mcm/day from 96 mcm/day on Monday
Average daily temperatures in Britain are expected to be 6.4 degrees Celsius on Tuesday and are forecast to rise to 9.1 C on Wednesday
*Peak wind power generation is forecast at 7.3 gigawatts (GW) on Tuesday, rising to 8.6 GW on Wednesday, National Grid data showed
Britain received one liquefied natural gas (LNG) tanker on Monday and expects two more on Tuesday
Comments
Comments are closed for this article.