UK GAS-Prompt prices edge lower on milder weather forecasts

LONDON, March 23 (Reuters) - Prompt wholesale British gas prices edged lower on Thursday morning as temperatures forecasts increased slightly. * British day-ahead gas price down by 0.20 pence to 40.00 pence per therm at 0947 GMT. * Within-day contract up by 0.05 pence to 40.15 p/therm. * Traders said forecasts for milder temperatures led to reduced gas demand, leading to a dip in prices. * "Today's DA (day-ahead) contract weather forecast is 1.2 degrees warmer compared to yesterday's … and consumption has fallen for the new DA contract by 17 million cubic meters (mcm), to 172 mcm," analysts at Thomson Reuters (Dusseldorf: TOC.DU - news) said. * "This represents an 8 mcm discount to seasonal normal," they said. * British gas system was almost balanced, with demand forecast at 278.6 mcm, and flows at 275.5 mcm/day, National Grid (LSE: NG.L - news) data shows. * April gas contract (TRGBNBPMJ7 ) down by 0.20 pence to 40.10 p/therm. * Day-ahead gas price at the Dutch TTF hub flat at 15.45 euros per megawatt hour. * Benchmark Dec-17 EU carbon contract up by 0.06 euro to 5.03 euros per tonne. * Thomson Reuters analyst view: (Reporting By Susanna Twidale; editing by Nina Chestney)

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