May 13, 2020 / 2:06 PM / 22 days ago

NORDIC POWER-Forward prices fall on wetter weather outlook

May 13 (Reuters) - Nordic forward prices fell on Wednesday, weighed down by forecasts for wetter weather in the hydropower-dependent region.

* Nordic front-quarter baseload power contract fell 0.06 euro to 9.85 euros per megawatt hour (MWh) as of 1146 GMT, after rising for four straight sessions.

* Nordic front-year lost 0.43 euro to 22.05 euros/MWh.

* “The hydro balance has weakened recently, but this morning, the weather forecasts had actually turned wetter and milder compared to yesterday so this is what the market is responding to,” said Karsten Sander Nielsen, an analyst at Energi Danmark.

* Nordic water reserves available 15 days ahead were seen at 20.7 terawatt hours (TWh) above normal, as against 22.4 TWh above normal on Tuesday.

* “The weekend will be slightly milder especially in the south but weather activity will be higher and western Norway could see above normal rain,” said Georg Muller, a meteorologist at Refinitiv.

* Carbon front-year allowances firmed 0.11 euro to 18.63 euros a tonne, while european next-year coal prices rose 5 cents to $52.85 a tonne.

* Meanwhile, Germany’s Cal ‘21 year-ahead baseload contract fell 0.2 euro to 35.50 euros/MWh.

* The Nordic power price for next-day physical delivery , or system price, fell 0.04 euro to 14.63 euros/MWh at an auction on the Nord Pool exchange. (Reporting by Shreyansi Singh in Bengaluru; Editing by Vinay Dwivedi)

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