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NORDIC POWER-Forward quarter prices firm on cold, dry weather outlook

ReutersMar 11, 2025 12:07 PM

- Nordic forward-quarter prices rose on Tuesday, supported by colder and drier weather in the hydro-reliant region.

The Nordic front-quarter baseload power contract ENOFBLQc1 gained 0.5 euros to 20.85 euros per megawatt hour (MWh) as of 1126 GMT.

"Temperatures in the Nordic area are expected (to be) below average for the next 3-4 days, with wind output and precipitation also lower than normal. From the weekend and on, we do, however, see a return to the mild, wet and windy conditions," said analysts at Energi Danmark in a note.

Dutch and British wholesale gas prices rose earlier in the day amid lower Norwegian exports to Europe and higher demand. NG/EU

In the European carbon market, the benchmark contract CFI2Zc1 fell 0.99 euros to 68.02 euros a tonne.

German year-ahead power TRDEBYc1 dropped 1 euro to 82.3 euros per MWh.

"High pressure over the northern North Atlantic will push a surge of colder air into northern and continental Europe," said Georg Muller, a meteorologist at LSEG, in a note.

Nordic water reserves available 15 days ahead PCAEC00 were seen at 17.02 terawatt hours (TWh) above normal, compared with 16.19 TWh on Monday.

The Nordic power price for next-day physical delivery FXSYSAL=NPX, or system price, added 30.01 euros to 88.02 euros per MWh.

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