U.K. natural gas for today declined as Scottish & Southern Energy Plc’s Aldbrough storage site pumped the fuel and the network manager forecast ample supply.
Gas inventories in onshore underground storage sites including Aldbrough rose to 6,662 gigawatt-hours on May 4, the most for the time of year since at least 2004, data on Bloomberg show. The site was pumping at a rate of about 18 million cubic meters a day as of 4 p.m. in London, flow data show.
Same-day gas fell 0.65 pence, or 1.1 percent, to 57.65 pence a therm as of 4:30 p.m., according to broker prices compiled by Bloomberg. That’s the lowest in two days and equal to $9.32 a million British thermal units. A therm is 100,000 Btu. Gas for tomorrow was at 57.85 pence at the same time.
National Grid forecast gas demand at 251 million cubic meters in the 24 hours through 6 a.m. tomorrow. That’s below normal for the time of year. Pipelines in the country will contain 341 million cubic meters of gas at that time, 3 million more than at the start of today.
U.K. baseload power for tomorrow dropped 25 pence to 50.15 pounds a megawatt-hour, broker data on Bloomberg show. Baseload is delivered around the clock.
Winter gas, to be delivered in the six months from October, gained 0.5 pence to 69.6 pence a therm. Electricity for winter gained 45 pence to 58 pounds a megawatt-hour.
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