* Gas demand falls for first time in three days
* Summer 2012 falls as crude reverses gains on bearish China
data
* Weak gas, high wind power weigh on power prices
LONDON, Oct 13 (Reuters) - British gas prices eased on
Thursday morning as gas demand fell following three sessions of
rising consumption amid colder weather, while curve contracts
slipped with weaker crude prices.
Gas demand fell for the first time in three days on
Thursday, limiting the use of gas in heating systems and
weighing on prompt prices.
Gas for Thursday delivery fell 1.25 pence to 55.50 pence per
therm at 0850 GMT, the same trading level as day-ahead gas.
The gas system was well supplied on Thursday morning with
steady imports from the Netherlands and Norway, as well as
Britain's liquefied natural gas (LNG) terminals, National Grid
data showed.
November gas also fell, tracking prompt losses as traders
were reassured about the arrival of LNG tankers as at least four
cargoes were scheduled to reach Britain in the coming days.
Benchmark front-season gas fell for the first time this week
as crude futures reversed gains on the back of bearish Chinese
trade data hinting at slowing oil demand in the world's
second-largest crude consumer nation.
Brent futures slipped below $111 per barrel and U.S.
equivalents shed $1 in early trading, which one trader said was
also a result of the end in the euro-dollar currency rally.
Summer 2012 gas fell 0.60 pence to 63.70 pence on Thursday.
"The euro-dollar rally could be at an end, which is
weakening the oil and also putting an hold to the equities
markets," one UK gas trader said.
"It's the end of a risk-on period and with that also the gas
market sees sellers coming back who were previously stopped
out."
Spot power prices also fell on Thursday, tracking losses in
the gas market and reacting to higher wind power production
forecasts.
Baseload day-ahead power traded at 46.35 pounds per
megawatt-hour (MWh), down 65 pence from the previous session.
National Grid data showed wind power production was expected
to rise around fourfold on Friday compared with Thursday's
output, adding to supply margins.
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(Reporting by Karolin Schaps; editing by James Jukwey)
