UK GAS-Prices up due to colder-than-normal conditions

Oct (Shenzhen: 000069.SZ - news) 29 (Reuters) - British wholesale gas prices rose on Monday due to colder-than-expected temperatures.

* Within-day gas was up 1.50 pence at 64.50 pence per therm at 0954 GMT

* Day-ahead gas rose by 1.40 pence to 64.50 pence/therm

* "Τhis week is colder than what forecasts had indicated on Friday," said a British gas trader

* Average daily temperatures in Britain are expected to be 4.1 degrees Celsius on Monday, 4.4 C lower than was forecast on Friday, but are forecast to rise by 1.4 C on Tuesday

* "LDZ (local distribution zone) consumption is up sharply on the end of last week as weather conditions have turned distinctly colder than normal," said Oliver Sanderson, gas analyst at Refinitiv

* Home heating accounts for around 40 percent of Britain’s gas use, meaning temperature can have a big impact on demand.

* Despite this, the system is well-supplied. Demand is forecast at 283.1 million cubic metres (mcm) and flows at 301.5 mcm/day, National Grid (LSE: NG.L - news) data shows

* Norwegian gas flows to Britain rose to 128 mcm per day, from 83 mcm/day on Friday, as the Langeled pipeline returned to full capacity

* Flows through the Vesterled pipeline have nearly tripled compared to Friday to 34 mcm

* Domestic gas production is also strong

* Peak wind generation is forecast at 4.7 gigawatt (GW) on Monday but is expected to rise to 5.4 GW on Tuesday. The output is below 50 percent of the total metered capacity

* The November gas contract rose by 0.90 pence to 65.85 p/therm

* Day-ahead Dutch gas at the TTF hub rose by 0.28 euro to 24.15 euros per megawatt hour

* The benchmark Dec (Shanghai: 600875.SS - news) -18 EU carbon contract fell by 0.44 euro to 17.84 euros a tonne (Reporting by Lefteris Karagiannopoulos in Oslo; editing by Nina Chestney)