London — Dutch and German day-ahead gas prices were stronger Tuesday morning with colder weather forecast pushing spot prices higher as demand expectations increase, while near-curve contracts rose supported by UK NBP values.
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Around midday London time, TTF day-ahead for Wednesday last traded at Eur16/MWh, up 25 euro cent from Thursday's close.
Similarly, German GASPOOL day-ahead moved up 47.5 euro cent to Eur16.325/MWh and German NetConnect day-ahead advanced 5 euro cent to Eur16.325/MWh.
At around midday London time, Platts Analytics Eclipse Energy forecast end-of-day consumption in Germany at 250 million cu m Wednesday, up from 238.6 million cu m Tuesday.
Similarly, Netherlands consumption was expected at 106.6 million cu m Wednesday, from 99.8 million cu m Tuesday, according to Platts Analytics data.
The short-term demand model is calculated from the latest demand, temperature and wind speed out-turns.
CustomWeather forecast Wednesday temperatures in Amsterdam at 5 degrees Celsius below seasonal norms, dropping further from 3 C below norms Tuesday.
Wednesday temperatures in Berlin, in the GASPOOL area, were expected at 7 C below seasonal norms, falling lower from 6 C below norms Tuesday, and likewise in Munich, in the NCG area, Wednesday temperatures were expected to slip to 10 C below norms from Tuesday forecast at 8 C below seasonal norms.
On the supply side, at around midday UK time Norwegian flow rates into Emden-Dornum on the Dutch-German border were at 147.92 million cu m/d, down from 148.12 million cu m/d Thursday, according to transmission system operator Gassco.
Net storage injections into the Dutch network were nominated Tuesday at 11.61 million cu m/d at 11 am London time, down from 21.51 million cu m/d at the same time on Thursday, according to Platts Analytics data.
On the near curve, German and Dutch prices were higher following the UK NBP month-ahead contract, which rose 7.5 pence to 38.6 pence/therm.
TTF May last traded around midday London time at Eur15.85/MWh, up 20 euro cent. GSP May rose 15 euro cent to Eur15.95/MWh and NCG May added 20 euro cent to Eur16.20/MWh.