Oct 30 (Reuters) - Nordic forward power prices rose on Tuesday as weather forecasts turned drier and carbon rates remained firm.
* Nordic front-quarter baseload power contract was up 0.7 euro to 46.90 euros per megawatt hour (MWh) at 1019 GMT.
* Nordic front-year contract gained 0.52 euro to 37.80 euros/MWh.
* The latest weather forecast from Monday was drier and the dry run was also confirmed Tuesday morning; this shift lifted the prices, said Olav Grunde Lauvdal, portfolio manager at Ishavskraft.
* Carbon front-year allowances firmed 0.07 euro to 16.75 euro a tonne.
* Nordic water reserves available 15 days ahead were seen at 2.4 terawatt hours (TWh) below normal, against 0.1 TWh above normal on Monday.
* Next week’s weather will be less active in the west of Scandinavia with near or below normal rain and temperatures remaining milder than normal, according to Georg Muller, a meteorologist at Refinitiv.
* “A change to significantly colder or wet weather is not likely before mid-November,” Muller added.