British wholesale gas prices were mixed on Wednesday morning, rising earlier in the day on lower wind forecasts, but other contracts weakened as demand for warmer weather and falling carbon prices.
0834 GMT One day earlier the trade increased by 0.30 pence to 63.75 pence.
The September contract was down 0.90 pence at 63.10 p / therm, while Q3 gas was down 0.75 pence at 62.75 p / therm.
UK gas is expected to adjust to 8 mcm / d earlier in the day due to weak wind power generation, definitive analysts said.
Peak wind production is forecast at 7.9 gigawatts on Wednesday (Thursday) and 6.3 gigawatts on Thursday, with a total meter capacity of about 20 gigawatts, Elekson data shows.
The UK system delivered about 16 million cubic meters (mcm) more, the demand forecast is 139 mcm and the supply is 154 mcm/day, National Grid data shows.
Demand for the Local Distribution Zone (LDZ) was low due to the hot weather of 75 million cubic meters (MCM), Definitive said.
The mild weather allowed for more injection into reduced storage, which provides further relief to curve prices, a trader said.
Earlier in the day, the gas contract fell 0.28 euros to 25.85 euros per megawatt (MW) and the July contract fell 0.05 euros to 25.75 euros per megawatt.
The carbon market and the UK auction on Wednesday should continue to have an impact on gas markets, analysts said.
“The UK bid may add to the rough pressure today, which is reminiscent of the expectations of UK companies’ EUA hedging,” said update analyst Anders Nordeng.
December-21 EU carbon contract CFI2Zc1 fell 0.86 euro to 51.55 euro per tonne.
December-21 British carbon deal UKAFMC 1 fell 0.65 pounds too. 47.50 per tonne.
