* U.S. gas prices down 4 pct on higher than expected storage * Power eases after the restart of Hinkely Point B8 reactor LONDON, March 5 (Reuters) - British gas prices eased early Friday, after U.S EIA energy inventory data the previous day showed was more gas in storage than expected and sent future contracts prices plummeting. April contracts on Britain's National Balancing Point gas market dropped 0.25 pence to 29.60 pence per therm from Thursday's close, while Summer 2010 contracts fell 0.35 pence to 29.50 pence. "It's a bit of a follow through this morning after U.S. gas got whacked yesterday," one gas traders said. U.S. natural gas April futures contracts ended the session 4 percent lower at $4.575 mmbtu after storage data showed inventory levels were higher than expected. [ID:nN04172582] U.S. gas storage draw down was 116 billion cubic feet (bcf), less than the forecast of 131 bcf, meaning gas inventories were higher than market expectations. [ID:nEAP100045] Prompt prices were little changed, with gas for Monday slipping 0.10 pence to 31.90 pence ($4.796 mmbtu) at 1103 GMT from day-ahead contracts on Thursday. National Grid data showed the system was balanced, with Norwegian gas via Langeled flowing at near capacity at 67 million cubic metres (mcm) a day, while South Hook LNG was adding 57 mcm/day. Another liquefied natural gas tanker is expected to berth at South Hook on March 12. [ID:nLDE624096] In the over-the-counter power market baseload electricity for Friday eased to around 35 pounds per megawatt hour compared with 35.50 pounds for day-ahead contracts on Thursday after power plant restarts widened supply margins. British Energy's Hinkley Point B8 nuclear power unit restarted on Thursday afternoon after a month-long planned maintenance outage. [ID:ID:nWLB9290] The day-ahead auction price on Britain's N2EX wholesale power exchange was set at 35.03 pounds for Monday, compared with 34.79 pounds for Thursday baseload power. (Reporting by Kwok W. Wan; editing by Keiron Henderson)

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