LONDON: Prompt natural gas prices in Britain were little changed on Monday morning as supply was expected to meet demand in a balanced market.
Gas for day-ahead delivery traded at 50.45 pence per therm at 0921 GMT, flat with Friday's close. Gas for within-day delivery traded at 50.38 pence per therm, up 0.38 pence.
With supply flows at about 209.3 million cubic metres (mcm) per day and demand expected to be about 210.4 mcm, the system was almost broadly balanced, National Grid data showed.
Further along the curve, the November gas contract was 0.15 pence lower at 53.05 pence per therm. The December contract slipped 0.25 pence to 55.65 pence.
Traders said curve prices could be influence this week by gas talks between Russia, Ukraine and the European Commission.
Russian President Vladimir Putin issued a plea to the European Union and United States on Friday, asking them to help cash-strapped Ukraine raise funds to pay for Russian gas purchases and warning about escalation of the gas crisis.
The Russian and Ukrainian energy ministers are expected to hold more talks with the European Commission in Brussels this week regarding the dispute over Ukraine's unpaid gas bills which prompted Moscow to cut off supplies to Kiev in June.
Russia meets 30 percent of Europe's natural gas demand and half of that gas transits to the EU through Ukraine. Putin on Friday reiterated that Ukraine may start siphoning off Russian gas destined for Europe if the gas issues are not resolved.
In Britain's power market, prices for delivery on Tuesday fell 70 pence to 42.80 pounds per megawatt hour (MW).
EDF Energy's Dungeness B 21 nuclear unit returned to the grid late Friday evening, adding 550 MW of capacity to the market.
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