News wire — Nordic front-quarter power prices rose on Friday, supported by forecasts for relatively cooler weather, while weaker carbon rates weighed on front-year prices.
* Nordic front-quarter baseload power contract rose 0.26 euro to 37.60 euros per megawatt hour (MWh) as of 1142 GMT.
* “Temperatures are dropping which is reducing expected inflows and increasing demand,” said Olav Grunde Lauvdal, portfolio manager at power company Ishavskraft.
* “On the other hand, the fuel prices are lower today, and we can see that the prices are going down further out on the curve,” he added
* Nordic front-year lost 0.2 euro to 34.60 euros/MWh.
* The weather in Scandinavia is expected to be unsettled and cooler than normal from the weekend onward, said Georg Muller, a meteorologist at Refinitiv.
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* Carbon front-year allowances eased 0.43 euro to 25.21 euros a tonne.
* European next-year coal prices rose $0.5 to $66.75 a tonne.
* Nordic water reserves available 15 days ahead were seen at 3.3 terawatt hours (TWh) above normal, as against 1.7 TWh above normal on Thursday.
* The Nordic power price for next-day physical delivery , or system price, fell 2.52 euros to 31.32 euros per MWh at an auction on the Nord Pool exchange.
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- Reuters
