Dutch and British wholesale gas prices dipped on Wednesday morning as temperatures were expected turned warmer and windier weather curbed demand for gas.

The benchmark front-month contract at the Dutch TTF hub TRNLTTFMc1 was down 0.67 euro at 47.80 euros per megawatt hour (MWh), or $14.69/mmbtu, by 0910 GMT.

The Dutch day-ahead contract TRNLTTFD1 edged down 0.80 euros to 47.60 euros/MWh.

In Britain, the day-ahead contract TRGBNBPMc1 fell by 2.25 pence to 118.90 p/therm.

“A warmer and windier revision in weather forecasts for the end of next week in Europe could weigh on market sentiment at the TTF as supply flows are rather stable in western Europe,” analysts at Engie EnergyScan said in a daily market note.

Analysts at LSEG said wind speeds are expected to rise above seasonal norms in north-west Europe over December 5-9 which could curb demand from gas-fired power stations.

Wind power was also high in Britain with peak wind power forecast around 18 gigawatts (GW) for both Wednesday and Thursday.

“Physical flows also appear steady with both Norwegian and Russian flows holding steady – following a small dip for the first few days for the latter via Ukraine,” consultancy Auxilione said in a daily market note.

Russian gas firm Gazprom GAZP.MM said it would send 42.4 million cubic metres (mcm) of gas to Europe via Ukraine on Wednesday, up from 41.3 mcm on Tuesday.

Nominations for gas exports from Norway were up 9 million cubic metres a day (mcm/d) at 333 mcm/day LSEG data showed.

In the European carbon market CFI2Zc1, the benchmark contract was down 0.64 euro at 67.90 euros a metric ton.
Source: Reuters (Reporting By Susanna Twidale; editing by Nina Chestney)