Prices stable as end to Ukraine transit deal looms
LONDON, Dec 30 (Reuters) - Dutch and British wholesale gas prices were stable early on Monday as high output from wind and solar farms curbed demand for gas-fired power, offsetting nervousness about the expected end of Russian gas supplies to Europe via Ukraine.
The benchmark front-month contract at the Dutch TTF hub was down 0.28 euro at 47.47 euros per megawatt hour (MWh), or $14.46/mmbtu, by 0928 GMT.
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The Dutch February contract was up 0.01 euros at 47.76 euros/MWh.
In Britain, the day-ahead contract fell 1.6 pence at 117.5 p per therm.
A transit deal via Ukraine for gas from Russia, which still supplies several European contries, is set to expire at the end of the year and Ukraine has said it will not be renewed.
On Monday, gas flows from Russia remained stable. Russia's Gazprom said it will send 42.4 million cubic metres of gas to Europe via Ukraine on Monday, a volume in line with recent days.
Europe’s gas stores were 73.55% full, the latest data from gas Infrastructure Europe showed.
Analysts said colder weather could drive heating demand later in the week.
"The second half of the week will be generally more unsettled with occasional precipitation and higher wind speeds. Initially, it will be mild, but the weekend will be colder with snow even at lower elevations," LSEG meteorologist Georg Muller said in a daily report on Continental Europe and the UK.
In the European carbon market, the benchmark contract was down 0.14 euro at 71.42 euros a metric ton.
(Reporting By Susanna Twidale; editing by Barbara Lewis)