Prices down on mild weather, stable supply
LONDON, Dec 18 (Reuters) -Dutch and British wholesale gas prices were down on Wednesday morning as above normal temperatures and strong windspeeds limited gas demand for heating and for power generation.
The benchmark front-month contract at the Dutch TTF hub TRNLTTFMc1 was down 1.37 euro at 40.75 euros per megawatt hour (MWh), or $13.13/mmbtu, by 0933 GMT.
In Britain the front-month contract TRGBNBPMc1 fell by 2.74 pence to 101.30 p/therm, while the day-ahead contract TRGBNBPD1 was down by 1.65 pence to 99.00 p/therm.
Temperatures across Northwest Europe are expected higher by one degree Celsius on the day ahead and windspeeds are also rising, LSEG data showed.
Gas demand for heating is down by 358 gigawatt hours per day (GWh/d) while gas demand for power generation is down by 496 GWh/d, LSEG data showed.
"Supply side adds some extra zest to the bears. Flows from Norway are also up 13 million cubic meters per day (mcm/d). LNG sendout is up 344 GWh/d," said LSEG analyst, Timothy Crump. NG/NO
Peak wind power generation in Britain is forecast at 20 gigawatts (GW) on Wednesday and at 17.8 GW on Thursday, out of around 23 GW of installed capacity, according to Elexon data.
Russian gas producer Gazprom GAZP.MM said it would send 42.4 mcm of gas to Europe via Ukraine on Wednesday, the same volume as on Tuesday.
In the European carbon market CFI2Zc1, the benchmark contract was up 0.55 euro at 64.83 euros a metric ton.
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Reporting by Marwa Rashad; Editing by Susanna Twidale
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