NORDIC POWER-Front-quarter plummets to over 4-year low following lower energy rates

April 3 (Reuters) - Nordic front-quarter prices hit a four-year low on Thursday, following lower rates in related energy markets after U.S. President Donald Trump announced sweeping reciprocal tariffs.

The Nordic front-quarter baseload power contract ENOFBLQc1 dropped to its lowest since November 2020 to 16.35 euros per megawatt hour (MWh) as of 1101 GMT.

The Nordic front-year contract ENOFBLYc1 lost 0.3 euros or 0.86% to 34.6 euros per MWh, a two-month low.

Chief meteorologist at TradeWpower AS, Ivan Fore Svegaarden, said that very low spot prices in the North and German prices coming down due to trade war are pushing down the prices.

European forward curve contracts dropped following lower gas, carbon and oil prices after the tarriff announcement by Trump. EL/DE

Trump's move to impose tariffs on U.S. imports on allies and rivals alike sparked threats of retaliation, intensifying a global trade war.

German year-ahead power TRDEBYc1 edged 2.45 euros lower to 83.85 euros per MWh.

Dutch and British gas prices continued their downtrend and fell further as warmer weather continues to curb demand. NG/EU

In the European carbon market, the benchmark contract CFI2Zc1 dropped 2.71 euros to 65.84 euros a tonne.

Nordic water reserves available 15 days ahead PCAEC00 were seen at 10.78 terawatt hours (TWh) above normal, compared with 10.38 TWh on Wednesday.

There will be dry and mild weather in the west and south at first, but cooler and more seasonable weather will be seen next week, said LSEG meteorologist Georg Muller.

The Nordic power price for next-day physical delivery FXSYSAL=NPX, or system price, rose 2.51 euros to 10.73 euros per MWh.