NORDIC POWER-Forward prices tick up on dry weather forecast

March 17 (Reuters) - Nordic forward prices rose on Monday, with the front-quarter scaling a two-week peak, supported by forecasts of drier weather in the hydro-reliant region.

The Nordic front-quarter baseload power contract ENOFBLQc1 added 1.44 euros to 22.65 euros per megawatt hour (MWh) as of 1040 GMT, its highest since March 3.

Nordic front-year prices ENOFBLYc1 gained 0.88% to 36.5 euros per MWh, touching a more than one-week high.

"The main explanation for the rise in prices is drier weather forecast. It is going to be drier-than-normal from day after tomorrow, over the weekend and the next week," said Ole Tom Djupskaas, a power analyst at LSEG.

Nordic water reserves available 15 days ahead PCAEC00 were seen at 12.9 9terawatt hours (TWh) above normal, compared with 15.22 TWh on Friday.

"The rest of this week will be dry and often also partially sunny in central and southern Scandinavia, while the north will see some moderate rain," said LSEG meteorologist Georg Muller in a note, adding "temperatures will rise to above-normal values".

Dutch and British wholesale gas prices eased amid forecasts of slightly milder weather and as the market monitored talks over a possible ceasefire to the conflict in Ukraine. NG/EU

In the European carbon market, the benchmark contract CFI2Zc1 fell 0.47 euros to 70.52 euros a tonne.

German year-ahead power TRDEBYc1 fell 1.05 euros to 82.25 euros per MWh.

The Nordic power price for next-day physical delivery FXSYSAL=NPX, or system price, rose 21.98 euros to 37.57 euros per MWh.