LONDON, Sept 27 (Reuters) - British prompt gas prices moved sideways on Thursday morning as a fall in available gas was offset by lower consumption.
Gas prices for within-day delivery were trading around 62 pence per therm at 0800 GMT, broadly flat with the previous day, and prices for next day delivery also moved sideways, trading around 61.50 pence.
"Consumption is forecast down for day-ahead, giving a bearish signal for the contract, but the downside could be limited by the delayed return of the St. Fergus (terminal) from maintenance, continued low LNG send outs and the further need for storage withdrawals," analysts at Thomson Reuters Point Carbon said.
Only two tankers carrying liquefied natural gas (LNG) are currently scheduled to arrive in Britain next week, with a combined capacity of 352,000 cubic metres.
Although Gassco said the scheduled maintenance at the British St. Fergus gas import terminal was completed on Sept. 25, sources said there was a delay of two days.
As of Thursday morning, there were no flows through the Vesterled pipeline, which brings Norwegian gas to St. Fergus receiving terminal.
Gas demand in Britain was expected to be 171.9 million cubic metres (mcm) on Thursday, over 30 percent below the seasonal norm, according to data from National Grid.
Despite the low demand, flows were expected to fall short of demand by 13.2 mcm, implying a need for imports from continental Europe or gas storage withdrawals.
British gas storage sites were filled to an average of 92.6 percent, according to Gas Infrastructure Europe, down from almost 98 percent in August.
In the power markets, prices for baseload (24 hours) delivery the next day were down by three pounds per megawatt-hour (MWh) between Wednesday and Thursday to 42 pounds per MWh.
Traders said the price drop was largely a result of warmer weather expected at the end of the week, along with higher wind power capacity.
"It's getting a bit warmer and windier, and with Friday demand typically also lower than during other days of the week, prices gave in this morning," one utility trader said.
The UK's MetOffice said it expected a breezy day on Friday, with temperature highs seen rising from 17 to 18 degrees Celsius. (Reporting by Henning Gloystein; Editing by Alison Birrane)
