LONDON: British wholesale gas prices rose on Tuesday as gas demand for heating and power generation picked up, leaving the market undersupplied.
* The within-day gas price was up 0.85 pence at 36.20 p/therm by 0829 GMT.
* The day-ahead gas price was up 0.35 pence at 36.00 pence per therm.
* Traders said prices rose as cooler than expected temperatures lifted demand for gas for heating and as forecasts of lower output from wind farms led to rising gas demand from power stations.
* Average temperatures on Tuesday in Britain were expected at 6.8 degrees Celsius, 0.9 degrees lower than previously forecast.
* The gas system was undersupplied by 4.4 million cubic metres (mcm), with demand forecast at 242.2 mcm and flows at 237.8 mcm/day, National Grid data showed.
* "Our gas for power model indicates notably higher consumption of 69 mcm/d for today and tomorrow, this is up from 65 mcm/d expected for yesterday," analysts at Refintiv said in a note.
* Gas-fired power plants were generating around 47 percent of Britain's electricity supplies on Tuesday, with wind power contributing 12 percent.
* Peak wind power generation is forecast at 5 gigawatts (GW) on Tuesday and 4.5 GW on Wednesday compared with metered capacity of more than 12 GW, National Grid data showed.
* Further out on the curve prices also rose.
* The April contract was up 0.40 pence at 36.00 p/therm.
* The day-ahead gas price at the Dutch TTF hub was down 0.05 euro at 14.30 euros per megawatt hour.
* The benchmark Dec-19 EU carbon contract was up 0.28 euro at 21.22 euros per tonne.
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