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RTRS:UK gas prices rise on short supply, EU debt deal
 
* Spot market rises on morning supply squeeze
* Curve prices are lifted by EU debt agreement

LONDON, Oct 27 (Reuters) - UK gas prices rose on Thursday
morning as spot prices were boosted by a shortage of supply
while forward prices were lifted by the European Union's
agreement to tackle the euro zone's sovereign debt crisis.
UK NBP gas prices for immediate delivery were around 60.75
pence per therm at 0915 GMT, up 0.75 pence from Wednesday
afternoon. Prices for next-day delivery were up 0.4 pence during
the same period to 60.50 pence a therm.
November gas prices, however, remained flat around 62.30
pence as the outlook for next month was unchanged.
"The system was a little bit short this morning so,
consequently, spot prices rose," one gas trader said.
"But it's nothing serious given that storage levels are over
90 percent full," he added.
Further out on the curve, prices also rose as markets
reacted to news from Brussels that the EU had agreed on several
measures to address Greece's sovereign debt crisis.

Gas prices for delivery in summer 2012 were at 62.45 pence a
therm on Thursday morning, up 0.45 pence since Wednesday
afternoon.
But the contract remains overall weak and is still down more
than 8 percent since prices began to fall in early September.

WEATHER
Britain's Met Office forecast temperatures to remain stable
between Thursday and Friday, and to slightly increase during the
weekend, although more showers and stronger winds were to be
expected.

DEMAND & SUPPLY
The British gas system was short nearly 30 million cubic
metres on Thursday morning, but the system could narrow the gap
to around 10 million cubic metres over the course of the
morning.


TECHNICALS
NBP summer 2012 gas rose to 62.45 pence per therm, back to
its 200 exponential daily moving average (DMA) value.
But the contract's 50 DMA remains slightly below its 100
DMA, around 64.50 pence per therm.
It is the first time this year that the short-term DMA has
dropped below the longer-termed 100 DMA.


POWER
Day-ahead baseload (24 hours delivery) power prices also
fell, shedding 35 pence per megawatt-hour (MWh) to 47.85 pounds
a MWh.
Summer 2012 electricity fell below 51 pounds to 50.75 pounds
a MWh.

GAS-Please click on the following for information about UK
and Belgian prices, field maintenance and field start-ups.
UK natural gas prices <0#NBPGAS-RTR>
Belgian natural gas prices <0#ZEEGAS-RTR>
North Sea field start-ups
North Sea field maintenance
POWER
UK: baseload prices <0#ELBUK-RTR>, outages
report
FRANCE: baseload prices <0#ELBFR-RTR>, peak <0#ELPFR-RTR>
market report , Powernext <0#POWERNEXT>,
Spectron baseload <0#FRBSLD-SPC>, off peak
<0#FROFPK-SPC>, peak <0#FRPEAK-SPC>
nuclear outages: report , offline
percentage EL-FROUTAGE-PC, offline capacity (MW)
EL-FROUTAGE-MW
GERMANY: baseload prices <0#ELBDE-RTR>, peak <0#ELPDE-RTR>
outages , report
SWITZERLAND: outages , reservoir levels
NORDIC: report
EU CARBON PRICES SPEEDGUIDE:


(Reporting by Henning Gloystein; editing by Jason Neely)
Source