NORDIC POWER-Front-quarter prices tick up on dry weather view

March 25 (Reuters) - Nordic front-quarter power prices edged higher on Tuesday, supported by forecasts of drier weather conditions and a slight dip in water reserves in the hydro-dependent region.

The Nordic front-quarter baseload power contract ENOFBLQc1 rose 0.55 euro to 24.2 euros per megawatt hour (MWh), as of 1053 GMT.

"The weather forecasts are (long-term) perhaps a bit drier and calmer than what was forecast yesterday, but I do not see any major reasons for prices to rise and fluctuations are indeed also quite modest," said Karsten Sander Nielsen, an analyst with Energi Danmark.

Nordic water reserves available 15 days ahead PCAEC00 were seen at 10.85 terawatt hours (TWh) above normal, compared with 10.94 TWh on Monday.

"Next week will be less active, and especially the southern parts will see some sunny and drier days. Temperatures will still be mostly above normal but lower than this week," said LSEG meteorologist Georg Muller.

Dutch and British wholesale gas prices edged lower as mild weather curbed demand and as the market monitored the U.S.-led talks in Saudi Arabia to end the war in Ukraine. NG/EU

In the European carbon market, the benchmark contract CFI2Zc1 shed 0.39 euro to 71.1 euros a tonne.

German year-ahead power TRDEBYc1 dropped 0.85 euro to 86 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.

"Wind is probably going down as well, so we will go into a period with less energy in the system from the weather side," said Axel Weylar, an originator at Entelios Trading AB.