Jan. 22 (Bloomberg) -- U.K. natural gas for within-day delivery rose as temperatures dropped to the lowest level in more than 11 months, boosting demand for the heating fuel.
Same-day gas climbed as much as 1.6 percent, according to broker data compiled by Bloomberg. The low temperature in London was minus 7 degrees Celsius (19 Fahrenheit) today, the least since Feb. 12, CustomWeather Inc. data on Bloomberg show. Demand in the 24 hours to 6 a.m. tomorrow was probably be 379 million cubic meters, above the seasonal normal of 309 million, National Grid Plc data show.
Gas for today climbed 0.7 percent, or 0.45 pence, to 67.4 pence a therm at 3:55 p.m. London time. Month-ahead gas added 0.2 percent to 66.35 pence a therm. That’s equivalent to $10.50 per million British thermal units and compares with $3.54 per million Btu of front-month U.S. gas.
The delivery network was predicted to end the period with 363 million cubic meters of gas, up from 354 million, National Grid data show.
Flows from Norway, the U.K.’s biggest source of imported gas, were at 114 million cubic meters a day, compared with a 30-day average of 116 million, Gassco AS data show.
Output from Norway’s Troll A gas field in the North Sea will be cut by 37 million cubic meters a day from Jan. 21 to Jan. 24, Statoil ASA said yesterday on its website.
Imports from Belgium were at a rate of 27 million cubic meters a day, the 14th consecutive day of shipments to the U.K. along the reversible pipeline between Zeebrugge and Bacton, Interconnector Ltd. data show.
Inventories at Rough, the U.K.’s biggest gas-storage facility, were at 25,601 gigawatt-hours yesterday, down from about 31,000 at the same time last year, yet up from 17,000 in 2011, National Grid data show. So-called medium-range storage was at 8,574 gigawatt-hours, a record for the time of year.
Gas accounted for 37 percent of U.K. power production at 3:50 p.m., grid data show. Coal generated 39 percent, nuclear 17 percent and wind 3.5 percent.
Electricity for tomorrow climbed 3 percent to 53.55 pounds a megawatt-hour, broker data show.
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