* Third Kollsnes outage in two weeks cuts gas supplies
* But facility revamped Friday morning
* Storm over northern UK causes outages
(Updates prices, notes MACD signal cross)
LONDON, Dec 9 British prompt gas and power
prices rose on Friday after another Norwegian gas processing
plant outage and stormy weather in northern Britain cut
By Friday afternoon the market began to ease as the weather
calmed and Norwegian gas supplies increased.
Norwegian gas processing plant Kollsnes, which can process
143 million cubic metres (mcm) of gas per day, was ramping up
production on Friday morning after shutting down overnight for
the third time in less than two weeks, North Sea infrastructure
operator Gassco said on Friday.
As a result of the outage, gas flows into the UK's Easington
terminal dropped from over 90 mcm on Thursday evening to 40 mcm
between midnight and 0600 GMT on Friday morning before flows
returned to normal by 0845 GMT, according to National Grid
The outage pushed prompt gas prices up.
Within-day gas prices were trading around 59.60 pence per
therm at 1600 GMT, up from 57.75 pence on Thursday afternoon.
Following a heavy storm across northern Britain overnight
that damaged the power infrastructure and caused some power
outages, prompt wholesale power prices also rose on Friday
Day-ahead baseload (24 hours) power prices were trading at
43.60 pounds per megawatt-hour (MWh) on Friday, up 30 pence on
the previous afternoon.
The return of EDF Energy 640-megawatt Torness 2
nuclear reactor to the grid on Thursday evening was largely
offset by Hunterston B-4's 460 MW reactor, also operated by EDF
Energy, being taken off the grid on the same evening.
EDF did not say why the unit was taken off the grid or when
it would reconnect.
Following Thursday's storm that saw wind speeds well above
100 miles per hour, the UK Met Office said winds were easing on
Friday morning, but it warned of icy weather in the North of
"Warnings of icy roads are in force across much of Scotland,
Northern Ireland, and parts of northern England as a result of
temperatures dropping overnight," the Met Office said.
Temperatures were expected to remain below 5 degrees Celsius
throughout the UK on Friday and over the weekend, with wet and
windy conditions dominating.
DEMAND & SUPPLY
Although daily UK gas demand was seen to be above the
seasonal norm of 31 mcm a day, Britain's gas system was well
supplied on Friday morning, following the return of flows into
Forecast demand was at 318.7 mcm while flows stood at 312.9
mcm, according to National Grid.
This returned to the pattern seen much of the week, which
largely saw demand outstrip supplies, meaning that suppliers had
to rely on imports from continental Europe and storage
As a result, NBP gas storage levels in the UK fell from over
96 percent late last week to around 93.5 percent on Thursday,
according to Gas Infrastructure Europe data.
Further out on the curve, UK summer 2012 NBP technicals
improved further on Friday.
The contract was rising for the third straight session and
stood 58.70 pence per therm on Friday afternoon, up from around
56 pence on Monday.
The relative strength index (RSI) rose back above 30 points
mid-week and is now sending out neutral price signals.
Moving average convergence-divergence (MACD) signals remain
at close to a 2011 low but have now crossed, implying a more
However, the contract remains in a clear downtrend that
began in late August, and the product is still down over 15
percent since then and has erased all gains made on the back of
Fukushima and the Arab spring.
Its 50 exponential daily moving average (DMA) value remains
lower than both its longer-termed 100 and 200 DMAs.
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
UK: baseload prices <0#ELBUK-RTR>, outages
FRANCE: baseload prices <0#ELBFR-RTR>, peak <0#ELPFR-RTR>
market report, 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)
GERMANY: baseload prices <0#ELBDE-RTR>, peak <0#ELPDE-RTR>
SWITZERLAND: outages, reservoir levels
EU CARBON PRICES SPEEDGUIDE:
(Reporting by Henning Gloystein and Ethan Bilby; Editing by