The price of gas in Europe has risen after falling due to warmer weather forecasts
LONDON, January 9 - Dutch wholesale gas prices and British wholesale gasoline prices rose on Friday after falling the day before. However, drivers remained largely 'the same.
LSEG data shows that the benchmark Dutch front-month 'contract at?the TTF Hub was up 0.30 Euros at 28.05 euro per megawatt hour by 0854 GMT.
The Dutch March price increased by 0.16 euros?to 27,49 euros/MWh while the weekend price decreased by 0.90 euros to?28.40 euro/MWh.
The British price in February was 0.53 cents higher, at?72.33 per therm.
The prices fell Wednesday as a result of the revision to the?weather predictions, which showed that temperatures would be higher than expected for next week.
According to LSEG, the average temperature for north-west Europe next week is expected be 1.4 degrees Celsius warmer than originally forecast. This will reduce demand.
The wind output is expected to decline, causing the demand for electricity to rise by?603 GWh/d. The weekend demand is flat, and then it drops next week.
The flow of gas from Norway is higher, as the outage at Karsto's processing plant should end today. Outage at Nyhamna from January 9-15 did not seem to affect gas exports. Liquefied natural gas is expected to increase.
The benchmark contract on the European carbon markets was unchanged at 88.19 Euros per metric ton.
(source: Reuters)
