November 9, 2018 / 12:11 PM / 7 months ago

NORDIC POWER-Weak oil, lower coal and carbon rates drag front-year prices

Nov 9 (Reuters) - Nordic front-year power prices dipped on Friday as crude prices hit multi-month lows amid weaker coal and carbon rates.

* Nordic front-quarter baseload power contract fell 0.05 euro to 48.10 euros per megawatt hour (MWh) at 1124 GMT.

* Nordic front-year contract lost 0.2 euro to 38.60 euros/MWh.

* “Front-year contracts have moved down together with Brent, coal and emission allowance,” said Arne Bergvik, chief analyst at Jämtkraft.

* Oil prices fell to multi-month lows on Friday as global supply increased and investors worried about the impact on fuel demand of lower economic growth and trade disputes.

* European next-year coal prices fell $0.30 to $88.60 a tonne.

* Carbon front-year allowances eased 0.69 euro to 18.87 euro a tonne.

* The weather in Scandinavia is expected to be drier and slowly cool from next week, said Georg Muller, a meteorologist at Refinitiv.

* Nordic water reserves available 15 days ahead were seen at 6.8 terawatt hours (TWh) below normal, as against 6.5 TWh below normal on Thursday.

* The Nordic power price for next-day physical delivery , or system price, fell 5.29 euro to 42.63 euros per MWh at an auction on the Nord Pool exchange.

* In the financial market, the day-ahead contract was last traded at 42.40 euros per megawatt hour (MWh). Refinitiv analyst view: here here (Reporting by Brijesh Patel in Bengaluru Editing by Jan Harvey and Edmund Blair)

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