BR100 Decreased By (-0.03%)
BR30 Decreased By (-0.25%)
KSE100 Decreased By (-0.01%)
KSE30 Decreased By (-0.01%)
AGHA 6.71 Increased By ▲ 0.03 (0.45%)
BECO 4.37 No Change ▼ 0.00 (0%)
BML 56.95 Decreased By ▼ -0.37 (-0.65%)
BOP 30.30 Decreased By ▼ -0.05 (-0.16%)
CNERGY 13.12 No Change ▼ 0.00 (0%)
CSIL 5.33 Decreased By ▼ -0.08 (-1.48%)
FCCL 52.65 Decreased By ▼ -0.14 (-0.27%)
FFL 14.60 Decreased By ▼ -0.12 (-0.82%)
FNEL 1.12 No Change ▼ 0.00 (0%)
KEL 6.16 Increased By ▲ 0.07 (1.15%)
KOSM 6.19 Increased By ▲ 0.46 (8.03%)
LOTCHEM 26.43 Decreased By ▼ -0.03 (-0.11%)
MLCF 93.06 Decreased By ▼ -0.10 (-0.11%)
NBP 164.80 Increased By ▲ 0.14 (0.09%)
NCPL 55.50 Decreased By ▼ -0.16 (-0.29%)
NPL 60.90 Decreased By ▼ -0.26 (-0.43%)
OGDC 315.70 Decreased By ▼ -1.03 (-0.33%)
PACE 9.99 Increased By ▲ 0.12 (1.22%)
PAEL 35.56 Decreased By ▼ -0.07 (-0.2%)
PIBTL 14.84 Increased By ▲ 0.16 (1.09%)
PPL 224.88 Decreased By ▼ -2.03 (-0.89%)
PRL 92.81 Decreased By ▼ -0.21 (-0.23%)
PTC 60.03 Decreased By ▼ -0.23 (-0.38%)
SSGC 23.85 Increased By ▲ 0.04 (0.17%)
TBL 8.76 Increased By ▲ 0.01 (0.11%)
TELE 7.80 No Change ▼ 0.00 (0%)
TPL 22.35 No Change ▼ 0.00 (0%)
TPLP 12.82 Decreased By ▼ -0.15 (-1.16%)
TREET 22.16 No Change ▼ 0.00 (0%)
TRG 56.55 Decreased By ▼ -0.01 (-0.02%)
Markets

Prices up on lower Norway flows, colder weather

Published Updated

British wholesale gas prices rose on Thursday as a decrease in flows from Norway created a supply deficit, and as forecasts pointed to a slight decline in UK temperatures in coming days.

* Within-day gas rose by 1.75 pence to 64.00 pence per therm as of 0900 GMT.

* Day-ahead gas was up 0.95 pence at 63.75 pence per therm.

* A decrease in gas supplies from Norway and expected colder weather were behind the price increases, a trader said.

* Norwegian gas flows to Britain fell to 81 million cubic metres (mcm) per day, from 91 mcm/day on Wednesday, as gas flows through the Langeled pipeline decreased.

* Consequently, the system is undersupplied with demand forecast at 235.8 mcm/day and flows at 229.6 mcm/day, National Grid data shows.

* Average daily temperatures in Britain are expected to be 10.3 degrees Celsius on Thursday, falling to 7.7 C on Friday and to 8.4 C over the weekend.

* Prices rose despite strong power output from wind turbines and an expected stream of vessels arriving with liquefied natural gas (LNG) until the end of next week.

* Peak wind generation is forecast at 11.2 gigawatts (GW) on Thursday and expected to rise to 11.3 GW on Friday, nearing a total metered capacity of around 12.1 GW.

* Britain expects five LNG vessels by the end of next week .

* December gas contract rose by 0.93 pence to 65.70 p/therm.

* Day-ahead Dutch gas at the TTF hub rose by 0.07 euro to 24.40 euros per megawatt hour.

* The benchmark Dec-18 EU carbon contract rose by 0.10 euro to 19.39 euros a tonne.

Copyright Reuters, 2018

Comments

Comments are closed for this article.