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U.K. Natural Gas for Today Falls on Milder Weather

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Jan. 15 (Bloomberg) -- U.K. natural gas for within-day delivery declined as milder-than-predicted weather tempered demand for the heating fuel.

Same-day gas fell as much as 1.5 percent, according to broker data compiled by Bloomberg. The low temperature in London was 1 degree Celsius (34 Fahrenheit) compared with a prediction for minus 3 degrees yesterday, CustomWeather Inc. data show.

Gas for today slid 0.4 pence, or 0.6 percent, to 67.75 pence a therm at 4:43 p.m. London time. Next-month gas dropped 0.6 percent to 66.8 pence a therm. That’s equivalent to $10.75 per million British thermal units and compares with $3.41 per million Btu for front-month U.S. gas.

Imports from Norway were as high as 135 million cubic meters a day, matching a record 135 million reached on Jan. 1, Gassco AS data show.

An unplanned outage led to a 10 million cubic meter a day production loss into the St. Fergus terminal for an unknown duration, Total SA said on its website.

Demand in the 24 hours to 6 a.m. tomorrow will be 367 million cubic meters, versus a seasonal normal of 309 million cubic meters, National Grid Plc data show.

Gas accounted for 38 percent of U.K. power production at 4:40 p.m., grid data show. Coal generated 39 percent, nuclear 16 percent and wind 1.5 percent.

Electricity for tomorrow was little changed at 53.90 pounds a megawatt-hour, broker data show.

To contact the reporter on this story: Matthew Brown in London at mbrown42@bloomberg.net

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net

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