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    Home » NORDIC POWER-Forward prices fall on lower rates for coal, carbon emissions

    NORDIC POWER-Forward prices fall on lower rates for coal, carbon emissions

    December 10, 2019
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    NORDIC POWER-Forward prices fall on lower rates for coal, carbon emissions
    *Power transmission grid.

    News wire — Nordic forward power prices fell on Tuesday pressured by lower rates for coal and carbon emissions, while higher wind power production and lower consumption are expected to weigh on spot prices in the next session.

    * Nordic front-quarter baseload power contract fell 0.05 euro to 40.60 euros per megawatt hour (MWh) by 1123 GMT, on track to post its seventh straight session of loss.

    * Nordic front-year lost 0.04 euro to 35.70 euros/MWh.

    * “Lower rates for coal and carbon emissions are pulling down the front-quarter prices,” said Ole Tom Djupskaas, director of Nordic power analysis, at Refinitiv.

    * European next-year coal prices fell $0.7 to $59.30 a tonne, set to fall for the ninth straight session.

    * Carbon front-year allowances eased 0.2 euro to 24.93 euro a tonne.

    * “Rest of this week and most of next week will be moderately unsettled with occasional rain or snow,” said Georg Muller, a meteorologist at Refinitiv

    *Nordic water reserves available 15 days ahead were seen at 1.8 terawatt hours (TWh) below normal, compared with 1.3 TWh below normal on Monday.

    * The Nordic power price for next-day physical delivery , or system price, fell 4.64 euro to 36.34 euros per MWh at an auction on the Nord Pool exchange, but came above an analyst’s expectation of 36 euros/MWh.

    * “Higher wind power production and lower consumption in the Nordic region will drag the spot prices down to a large extent tomorrow (Wednesday),” Djupskaas added.

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    – Reuters

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