Prices of EUROPE Gases rise slightly due to expected weakening in wind output
The Dutch and British wholesale prices of gas rose slightly Thursday morning, as the wind output was expected decrease. Also, LNG send-out decreased.
According to LSEG, the benchmark Dutch front-month contract for the TTF hub increased by 0.15 euros to 35.95 Euro per megawatt hour at 0837 GMT.
The price of August increased by 0.04 euros to 36.19 euro/MWh.
The British contract was 0.81 pence more expensive at 84.61 cents per therm.
Prices rose yesterday on the back of rising European electricity prices, as France may have to cut its nuclear production after an industry regulator revealed that it found "hints" in a possible reactor stress corrosion.
LSEG data shows that wind generation in North-West Europe is expected to decrease over the weekend compared to current levels. Next week, it is predicted to be lower than previous predictions.
Gas plants are typically more in demand when wind power is lower.
The liquefied natural gas exports in North-West Europe are also expected to drop by 133 gigawatt-hours (GWh) to 2,596GWh/day today, due mainly to maintenance at Zeebrugge's terminal.
The benchmark contract on the European carbon markets was 0.55 euros lower at 73.81 Euros per metric ton. Nina Chestney reports.
(source: Reuters)
