WLTW

Willis Towers Watson Public Limited Company

231.56
USD
-1.19%
231.56
USD
-1.19%
197.63 271.87
52 weeks
52 weeks

Mkt Cap 28.85B

Shares Out 124.61M

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EUROPE GAS-Prompt UK prices rise on lower wind power, strong demand

LONDON, May 27 (Reuters) - Prompt British wholesale gas prices rose on Friday as expectations of weaker output from the country's wind farms increased demand from gas-fired power plants while Dutch prices edged lower. British gas for immediate delivery TRGBNBPWKD rose by 15.5 pence to 110 pence per therm by 0941 GMT, while the day-ahead price TRGBNBPD1 was 32 pence higher at 119 p/therm. "Gas for power demand is forecast firmer at the beginning of next week when wind power generation is projected to ease," analysts at Refinitiv said in a daily research note. Refinitiv analysts forecast gas-for-power demand at 70 million cubic metres (mcm) a day on Monday, up 40 mcm on the previous forecast. Peak wind power generation is forecast at 14.5 gigawatts (GW) on Friday falling to 8.6 GW on Saturday, Elexon data showed. On the Dutch TTF hub, prices edged lower with fears over significant supply cuts from Russia easing and with Norwegian flows expected to rise as maintenance to key infrastructure was scheduled to end over the next few days. The Dutch day-ahead contract TRNLTTFD1 fell 1.65 euros to 80.60 euros per megawatt hour (MWh), and the benchmark June contract TRNLTTFMc1 fell by 2.70 euros to 86.40 euros/MWh. Delivery of Russian gas to Slovakia through Ukraine edged lower on Friday but Russian flows directly into Germany via the Nord Stream pipeline remained strong at 73,043,980 kWh/h on Friday morning, little changed from the previous 24 hours. In the European carbon market, the benchmark contract CFI2Zc1 was down 0.16 euros at 84.60 euros a tonne. (Reporting By Susanna Twidale) ((susanna.twidale@thomsonreuters.com; +44 207 5424753;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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