News wires — Nordic forward power prices climbed on Friday, lifted by higher carbon rates, and as sentiment was bolstered by the UK’s Conservative Party win in an election that cleared hurdles for Brexit.
* Nordic front-quarter baseload power contract rose 0.4 euro to 41.55 euros per megawatt hour (MWh) as of 1221 GMT.
* Nordic front-year gained 0.38 euro to 36.30 euros/MWh.
* Prices are higher due to higher marginal costs for coal and Carbon Emission Allowances (EUA) trading higher compared to when Nordic Power Market closed on Thursday, said Jens Nordberg, Nordic trader & partner at MFT Energy.
* European next-year coal prices remained unchanged at $60 a tonne, after having hit session high of $60.10.
* Carbon front-year allowances was up 0.05 euro at 25.12 euro a tonne. Prices earlier rose to their highest in more than a month at 25.92 euro a tonne.
* “Emissions are up due to the result of the UK election. This gives a lift to the costs of coal and gas fired production and also German prices,” added Oddgeir Loeken, managing director at Kirkesundet Kraft.
* Nordic water reserves available 15 days ahead were seen at 0.3 terawatt hours (TWh) below normal, compared with 1.5 TWh below normal on Thursday.
* “Precipitation amounts and temperatures will be slightly above normal. Next week will be less active with occasional showers only and still mostly above normal temperatures,” said Georg Muller, a meteorologist at Refinitiv.
* The Nordic power price for next-day physical delivery , or system price, fell 1.8 euro to 35.03 euros per MWh at an auction on the Nord Pool exchange.
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