Dutch and British wholesale gas prices rose slightly early on Monday, as they traded in a narrow range, caught between low wind speed and uncertainty over Russian gas flows to Europe when the Ukraine gas transit deal expires at the year-end.
The benchmark front-month contract at the Dutch TTF hub edged up by 0.84 euro to 44.65 euros per megawatt hour (MWh), or $14.3/mmBtu, by 1016 GMT, while the day ahead contract was up 1.08 euro at 44.38 euros/MWh.
In Britain, the day-ahead contract was 2.25 pence higher at 110.25 p per therm.
"The spot and the curve (prices) are still supported by the prospect of a non-renewal of the Russia-Ukraine gas transit deal," analysts at Engie's EnergyScan said in a daily note, according to Reuters.
The situation with European countries that buy Russian gas is very complicated and requires increased attention, the Kremlin said on Monday, after talks between President Vladimir Putin and Slovak Prime Minister Robert Fico.
Fico said on Sunday that Putin had confirmed Russian willingness to continue to supply gas to Slovakia, even though the Slovak leader said this was "practically impossible" once a gas transit agreement between Russia and Ukraine expires.
Russia's Gazprom said it would send 42.1 million cubic metres of gas to Europe via Ukraine on Monday, a volume in line with recent days.
Meanwhile, wind generation will drop sharply today in France and Germany and the confidence for high wind output is reduced, supporting gas for power demand, EnergyScan analysts said.
In Britain, peak wind generation is forecast at 19.1 gigawatts (GW) on Monday, falling to 15.6 GW on Tuesday, Elexon data shows.
In the European carbon market, the benchmark contract was up 0.22 euro at 67.91 euros a metric ton.
