U.K. Within-Day Natural Gas Falls for Second Day on Less DemandRachel Morison
U.K. natural gas for same-day delivery declined for a second day as temperatures rose, reducing demand.
Within-day gas fell as much as 2.5 percent, according to broker data compiled by Bloomberg. Demand in the 24 hours to 6 a.m. tomorrow was predicted at 349 million cubic meters, compared with 360 million cubic meters yesterday and a seasonal normal of 300 million, National Grid Plc data show.
System flows averaged 363 million cubic meters through 5:10 p.m. London time, grid data show. The nation’s pipelines will contain 362 million cubic meters of gas at 6 a.m. tomorrow, compared with 353 million cubic meters 24 hours earlier, the data show.
Gas for today fell as much as 1.8 pence to 69.5 pence a therm and traded at 69.8 pence at 5:10 p.m. Next-month gas rose 1.8 percent to 68.6 pence a therm. That’s equivalent to $10.38 per million British thermal units and compares with $3.53 per million Btu of front-month U.S. gas.
Flows from Norway, the U.K.’s biggest source of imported gas, were at 124 million cubic meters a day, Gassco AS data show. They yesterday reached 136 million, the most since Bloomberg started compiling the Gassco AS data in January 2010.
The average temperature in the U.K. through March 9 will be 5.7 degrees Celsius (42 Fahrenheit), according to MetraWeather data on Bloomberg using the GFS model at 4:40 p.m. The previous estimate was for 5.1 degrees, the data show.
Gas accounted for 36 percent of U.K. power production at 4:54 p.m., grid data show. Coal generated 42 percent, nuclear 15 percent and wind 2.4 percent.
Wind generation will peak at 816 megawatts tomorrow after reaching 1,129 megawatts today, Bloomberg calculations show.
Electricity for the next day fell for a second day, losing as much as 6.1 percent to 53.50 pounds a megawatt-hour, broker data show.
Electricite de France SA had an unplanned halt at its 550-megawatt Dungeness B-21 nuclear reactor. The unit will be off for seven days, the company said on its website.