Oct. 29 (Bloomberg) -- U.K. natural gas for same-day delivery declined from near an eight-month high as supplies outpaced demand. Day-ahead power dropped.
Month-ahead gas also fell, trimming a two-week advance, according to broker data compiled by Bloomberg. Demand in the 24 hours to 6 a.m. tomorrow will be 245 million cubic meters, National Grid Plc data show. Total supply will be 259 million, it said.
Gas for today fell 2.6 percent to 66.75 pence a therm at 4:30 p.m. London time. Next-month gas dropped 0.2 percent to 67.4 pence a therm. That’s equivalent to $10.79 per million British thermal units and compares with $3.47 per million Btu of front-month U.S. gas.
Statoil ASA said there was reduced availability of gas by 6.4 million cubic meters a day for less than 24 hours yesterday, Norway’s largest energy producer said on its website.
Imports from Norway were at a rate of 107 million cubic meters a day after reaching 120 million on Oct. 25, the most since Oct. 1, Gassco AS data show. Flows from Belgium were at 20 million cubic meters a day, according to pipeline operator Interconnector U.K. Ltd. That’s down from 26 million on Oct. 27, the most since January 2011.
Maintenance on National Grid’s telemetry equipment will be carried out from 8:45 a.m. to 6 p.m. tomorrow, disrupting available data on gas movements, the network operator said today on its website.
Gas accounted for 37 percent of U.K. power production at 4:30 p.m., National Grid data show. Coal generated 47 percent, nuclear 14 percent and wind 1.6 percent.
Electricite de France SA halted its 610-megawatt Hinkley Point B8 nuclear power plant in southwest England on Oct. 27, according to National Grid Plc data. The reactor will start on Nov. 3, EDF said.
Electricity for the next working day traded at 50.50 pounds ($81.09) a megawatt-hour, compared with 55 pounds on Oct. 26, an 8.2 percent decline, broker data show.
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