Newswire — Nordic forward prices gained on Friday, helped by higher coal and carbon rates, with lower water reserves lending further support.
* Nordic front-quarter baseload power contract rose 0.55 euro to 37.35 euros per megawatt hour (MWh).
* Nordic front-year gained 0.6 euro to 34.65 euros/MWh.
* “Both carbon and coal are up and the uncertainty about the weather are the main drivers,” said Refinitiv analyst Oletom Djupskaas.
* Nordic water reserves available 15 days ahead were seen at 0.95 terawatt hours (TWh) below normal, as compared with 0.78 TWh below normal on Thursday.
* “Warm air establishes again over Scandinavia. During next week lows enter Scandinavia from the west and conditions turn much cooler all over Europe,” according to the Swedish Meteorological and Hydrological Institute.
* European next-year coal prices rose $0.4 to $64.40 a tonne.
* Carbon front-year allowances firmed 0.19 euro to 26.65 euros a tonne.
* The Nordic power price for next-day physical delivery , or system price, fell 2.68 euros to 32.21 euros per MWh at an auction on the Nord Pool exchange.
– Reuters
