* Gas network oversupplied by around 16 mcm/day

* Cooler temperatures forecast for next week

* Day-ahead power at lowest level since mid-August

LONDON, Oct 25 (Reuters) - British gas and power prices fell on Friday as mild weather kept demand in check and higher gas flows from the Netherlands created an oversupplied market.

Gas for within-day delivery TRGBNBPWKD was down 0.50 pence at 64.00 pence ($1.00) per therm at 0804 GMT, while Britain's gas network was oversupplied by almost 16 million cubic metres/day (mcm).

Higher gas flows from the Netherlands outweighed a drop in supplies from Norway on Friday.

Data from gas system operator Gassco showed that 17 million cubic metres (mcm) of gas per day was being rerouted from Britain to Germany. ID:nL5N0IF124

Forecast gas demand was at 179.50 mcm, well below normal seasonal demand of 221.40 mcm, according to the National Grid website.

Temperatures in Britain are forecast to be 9-16 degrees Celsius on Friday but are expected to decline to 8-13 degrees by next Tuesday after a storm on Monday brings in stronger, colder winds, the Met Office website showed.

In anticipation of colder weather next week, gas for day-ahead delivery rose 1.55 pence to 66.30 pence per therm.

In the power market, prices for day-ahead baseload delivery

TRGBBD1 dropped to their lowest level since mid-August. The contract fell by 2.10 pounds, or 4.58 percent, to 43.75 pounds per megawatt hour.

Demand for power typically falls on Fridays and weekends.

Wind power was also contributing 9.5 percent of overall power generation, compared with 4.7 percent the previous day.

Further along the curve, gas for delivery in November and December also was down.

The November gas contract declined by 0.24 pence to 69.08 pence per therm, while December was 0.30 pence lower at 71.30 pence per therm.

Meanwhile, another liquefied natural gas (LNG) tanker is due to arrive at Britain's South Hook on Oct. 31, AIS data showed. The Mozah tanker is scheduled to arrive at South Hook on Friday.

LNG/TKUK ($1 = 0.6185 British pounds)

(Reporting by Nina Chestney; editing by Jane Baird)

((nina.chestney@thomsonreuters.com)(+44)(0)(207 542 8071)(nina.chestney.thomsonreuters.com@reuters.net)) 

 ((GAS UK natural gas prices         
  0#TRGBNBP:
   National Grid instant flows   
  0#NGRID-FLOW-RT
   National Grid gas demand      
  0#NGRID-DSR-DEM
   North Sea gas and power maintenance   
  NSEA/AM
        POWER UK: baseload prices  
  0#TRGBB:
  , peakload prices  
  0#TRGBP:
  , outages  
  POWER/GB
   FRANCE: baseload prices  
  0#TRFRB:
  , peakload prices  
  0#TRFRP:
  , outages  
  POWER/FR
  , report  
  EL/DE
   GERMANY: baseload prices  
  0#TRDEB:
  , peakload prices  
  0#TRDEP:
  , outages  
  POWER/DE
  , report  
  EL/DE
   CENTRAL EUROPE: report  
  EL/CEE
   SWITZERLAND: outages  
  POWER/CH
  , reservoir levels  
  RES/CH
   NORDIC:  report  
  EL/NOR
   EU CARBON PRICES SPEEDGUIDE:  
  EMISSIONS
   ((Xtra clients: Click on 
  http://topnews.session.rservices.com
  to see Top News pages in multimedia Web format.))    ))

Keywords: MARKETS BRITAIN GAS/POWER