Prices decline on stable supply, stronger wind output
LONDON, July 3 (Reuters) -Dutch and British wholesale gas prices declined on Wednesday morning on higher wind generation forecasts and stable supply.
The benchmark front-month contract at the Dutch TTF hub TRNLTTFMc1 was 0.62 euros lower at 33.08 euros per megawatt hour (MWh), or $10.43/mmBtu, by 0826 GMT, LSEG data showed.
In the British market, the month-ahead contract TRGBNBPMQ4 was 1.00 pence lower at 77.50 pence per therm.
Total Norwegian export nominations are largely flat at 334 million cubic metres (mcm) per day.
"With negligible changes in demand forecast, stable LNG and little risk to any unplanned maintenance in Norway this month due to the holiday season in the country we expect prices to continue oscillating around in the 33-33.5 euros/MWh corridor over the next several days," said Yuriy Onyshkiv, gas analyst at LSEG.
Wind generation in north-west Europe is expected to rise above normal levels from tomorrow until the weekend which should reduce demand for gas from power plants.
In the European carbon market, the benchmark contract CFI2Zc1 eased by 0.17 euro to 70.50 euros per metric ton.
Reporting by Nina Chestney
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