News wire — Nordic front quarter prices fell on Friday as traders booked profits amid easing coal and carbon prices and improving water levels in the hydropower-dependent region.
* Nordic front-quarter baseload power contract fell 0.14 euro to 42.79 euros per megawatt hour (MWh) as of 1124 GMT; set for its fourth straight weekly gain.
* Nordic front-year remained unchanged at 35.95 euros/MWh.
* “I think that front quarter is down pretty much due to profit taking. It needs to have more bullish weather forecast to keep the uptrend in place especially if emission (fuel) market is down as it is today,” said Antti Salonen, portfolio manager at Markedskraft.
* European next-year coal prices slipped $0.55 to$65.60 a tonne.
* Carbon front-year allowances fell 0.37 euro to 25.07 euros a tonne.
* “High pressure over the northern north Atlantic will push colder air to Scandinavia. Weather activity will be mostly low as the high will suppress major low pressure developments,” said Georg Muller, a meteorologist at Refinitiv.
* Nordic water reserves available 15 days ahead were seen at 1 terawatt hours (TWh) below normal as compared with 2.2 TWh below normal on Thursday.
* The Nordic power price for next-day physical delivery , or system price, fell 1.73 euros to 33.71 euros per MWh at an auction on the Nord Pool exchange.
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