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NORDIC POWER-Front-quarter prices ease on wet, windy weather forecast and lower German rates

ReutersMar 24, 2025 12:19 PM

- Nordic front-quarter power prices edged lower on Monday, weighed by a wet and windy weather forecast along with lower rates in the German power market.

The Nordic front-quarter baseload power contract ENOFBLQc1 fell 0.45 euro to 23.8 euros per megawatt hour (MWh), as of 1157 GMT.

"The weather is wetter than last week, it is also quite windy. The German prices are also down. So, a combination of factors are pushing the prices," said Ole Tom Djupskaas, a power analyst at LSEG.

Nordic water reserves available 15 days ahead PCAEC00 were seen at 10.94 terawatt hours (TWh) above normal, compared with 10.92 TWh on Friday.

"Temperatures will be largely above normal. Next week has signs for increasing high-pressure influence with less active but likely still mild weather," said LSEG meteorologist Georg Muller.

Dutch and British wholesale gas prices edged lower as temperatures remained mild and as U.S. and Russian officials began talks in Saudi Arabia to discuss a possible ceasefire in Ukraine.NG/EU

In the European carbon market, the benchmark contract CFI2Zc1 shed 0.41 euro to 71.04 euros a tonne.

German year-ahead power TRDEBYc1 dropped 0.95 euro to 85.25 euros per MWh.

The Nordic power price for next-day physical delivery FXSYSAL=NPX, or system price, rose 3.89 euros to 38.07 euros per MWh.

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