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NORDIC POWER-Front-quarter set for weekly fall on higher water reserves

ReutersMar 28, 2025 12:43 PM

- Nordic front-quarter prices were little changed on Friday but were headed for a weekly decline after a two-week winning streak, pressured by higher water reserves.

The Nordic front-quarter baseload power contract ENOFBLQc1 steadied at 22.5 euros per megawatt hour (MWh) as of 1155 GMT, but was down more than 7% for the week.

Ole Tom Djupskaas, power analyst at LSEG, said price increases were limited due to lot of water in the reservoirs at this time of the year.

Nordic water reserves available 15 days ahead PCAEC00 were seen at 11.76 terawatt hours (TWh) above normal, compared with 12.22 TWh on Thursday.

"The weekend will be cloudy with some rain or snow in the southern parts of Central Europe," said LSEG meteorologist Georg Muller, adding that next week will be mostly dry and sunny but with partially cool and frosty nights.

Dutch and British wholesale gas prices were largely steady as the latest attacks on a Russian gas supply point were balanced by an improved supply-demand outlook as winter ends. NG/EU

Russia accused Ukraine of attacking its key energy facilities despite a moratorium on such strikes, saying a key piece of gas infrastructure in the town of Sudzha had been practically destroyed.

In the European carbon market, the benchmark contract CFI2Zc1 rose 0.66 euros to 69.2 euros a tonne.

German year-ahead power TRDEBYc1 dropped 0.35 euros to 84.35 per MWh.

The Nordic power price for next-day physical delivery FXSYSAL=NPX, or system price, added 4.79 euros to 12.98 euros per MWh.

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