Prices little changed amid flat demand, steady flows
LONDON, Aug 14 (Reuters) -Dutch and British gas wholesale prices were little changed on Wednesday morning amid flat demand and steady flows.
The benchmark front-month contract at the Dutch TTF hub TRNLTTFMc1 inched down by 0.02 euro to 39.35 euros per megawatt hour (MWh) by 0910 GMT, while the October contract TRNLTTFMc2 was 0.07 euro lower at 40.13 euros/MWh, LSEG data showed.
In the British market, the September contract TRGBNBPMc1 was 1.05 pence higher at 95.80 pence per therm.
"There is not much change to fundamental (drivers) and prices have calmed down (since earlier this week) with gas still going through Ukraine," a gas trader said.
German wind power capacity is forecast lower than normal by the end of the week but higher next week, LSEG data showed.
Lower wind power output typically increases demand for gas from power plants.
Demand is expected to be flat in north-west Europe, while Norwegian export nominations increased slightly by 6 million cubic metres (mcm) to 323 mcm/day.
Gas flows from Russia to Ukraine through the Sudzha entry point continue despite fighting in the area. Russia's Gazprom said it would send 42.4 mcm/day of gas to Europe via Ukraine on Wednesday, the same volume as on Tuesday.
Network operators and gas companies in European countries said on Tuesday that there were no interruptions to supply.
Analysts at BMI said prices are likely to continue to cool after a peak earlier this week because there is no indication that Ukraine wants to disrupt the flow of gas.
"Furthermore, Europe will be entering the heating season with substantial gas inventories (forecast to reach 90% in late-August), and lastly, flows from Norway, the EU’s top pipeline gas supplier, remain steady," they added.
In the European carbon market, the benchmark contract CFI2Zc1 edged up by 0.42 euros to 71.71 euros a metric ton.
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Reporting by Nina Chestney
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