November 14, 2018 / 12:06 PM / a month ago

NORDIC POWER-Front-quarter prices gain on drier weather view, lower water levels

Nov 14 (Reuters) - Nordic front-quarter power prices rose on Wednesday, supported by drier weather forecasts and declining water levels, while the front-year prices are slightly down on easing carbon and coal rates.

* Nordic front-quarter baseload power contract rose 0.5 euro to 53.30 euros per megawatt hour (MWh) at 1135 GMT.

* Nordic front-year contract lost 0.15 euro to 42.10 euros/MWh.

* Dry weather lifts the front, while weaker carbon and coal rates affecting the front-year prices, said Oddgeir Loeken, managing director at Kirkesundet Kraft.

* Nordic water reserves available 15 days ahead were seen at 12.4 terawatt hours (TWh) below normal, as against 11.2 TWh below normal on Tuesday.

* “Dry and slowly colder in the next 10 days,” said Georg Muller, a meteorologist at Refinitiv in his Scandinavian weather forecast.

* Carbon front-year allowances eased 0.43 euro to 19.71 euro a tonne..

* European next-year coal prices fell $1.4 to $87.10 a tonne.

* The Nordic power price for next-day physical delivery , or system price, fell 2.63 euro to 47.76 euros per MWh at an auction on the Nord Pool exchange. Refinitiv analyst view: here here (Reporting by Brijesh Patel in Bengaluru; Editing by Elaine Hardcastle)

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