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NORDIC POWER-Spot firms on lower nuclear output
September 26, 2012 / 12:36 PM / 5 years ago

NORDIC POWER-Spot firms on lower nuclear output

* Oskarshamn-3 reactor offline after emergency shut-down
    * Coal futures below $100/mt, oil under $110/b

    OSLO, Sept 26 (Reuters) - Nordic spot electricity prices
firmed on Wednesday as lower nuclear power output reduced
available capacity at a time when higher exports boosted demand
capacities, analysts said.
    The Nordic average day-ahead power price for
Thursday delivery rose by 2.35 euros to 33.5 euros per
megawatt-hour (MWh).
    The day-ahead contract on the financial market was last
traded at 32.75 euros.
    Spot prices rose on lower nuclear power supply and export
capacity from Denmark to Germany, which rose 150 MW, analysts at
Point Carbon said.
    "Oskarshamn 3 went offline last night while we have higher
exports," Point Carbon said.
    Sweden's 1,400-megawatt Oskarshamn-3 nuclear reactor, the
biggest in the Nordic countries, was shut after an automatic
emergency shutdown automatic earlier on
Wednesday. 
    In Sweden, the area price rose by more than 8 euros to 41.8
euros a MWh.
    The spot price could fall later this week as two nuclear
reactors are expected to restart in Sweden and Finland, traders
said. 
        
    FORWARD PRICES
    Further down the curve, the contract for baseload (24 hours)
power delivery in the next quarter rose by 50 cents to
37.20 euros a MWh by 1130 GMT.
    "The price rise seems to be a bit of an overreaction to the
spot coming in higher than expected, partly due to Oskarshamn-3
shutdown," a Sweden-based trader said.
    "Other fundamentals are neutral or slightly bearish," he
added.
    Water reservoir levels for hydropower generation in Norway
and Sweden rose last week, energy authorities said on
Wednesday. 
    Water levels are key to electricity prices in the Nordic
region which gets half its power from hydroelectric stations.
    Nordic baseload power prices for delivery in 2013 
were trading at 36.95 euros per MWh, almost unchanged from
Tuesday's close.
    Coal API2 2013 futures contract fell by 40
cents to $96.90 a tonne by 1130 GMT, while Brent crude fell more
than $1 per barrel to below $110.  
    The fall in oil prices came due to a stronger dollar and
worries over growth and the euro zone debt crisis as Greece
faced its biggest anti-austerity strike for
months. 

 (Reporting by Nerijus Adomaitis; Editing by William Hardy)

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