News Wires — Nordic forward power prices dipped on Wednesday on falling coal and carbon prices, wet weather forecast and improving water reserves in the hydropower-dependent region.
* Nordic front-quarter baseload power contract fell 1.05 euros to 32.05 euros per megawatt hour (MWh) at 1059 GMT.
* Nordic front-year lost 0.5 euros to 34.65 euros/MWh.
* “All fundamental factors are pointing down today: carbon, coal, gas,” said Antti Salonen, portfolio manager at Markedskraft.
* The weather forecasts are also wetter-than-normal, Salonen added.
* Nordic water reserves available 15 days ahead were seen at 2.28 terawatt hours (TWh) above normal, compared with 1.34 TWh above normal on Tuesday.
* European next-year coal prices fell $1.4 to $64.10 per tonne.
* Carbon front-year allowances eased 0.22 euros to 24.76 euros per tonne.
* Low pressure activity over western Europe will lead to rather strong shower and thunderstorm activity in the south of Scandinavia in the next several days, according to Georg Muller, a meteorologist at Refinitiv.
* The Nordic power price for next-day physical delivery , or system price, fell 0.66 euros to 29.18 euros per MWh at an auction on the Nord Pool exchange.
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