NORDIC POWER-Forward prices gain on higher European energy rates, declining water levels

April 10 (Reuters) - Nordic forward power prices rose on Thursday, taking cues from gains in the wider European energy markets, while a downtick in water reserves also helped prices.

The Nordic front-quarter baseload power contract ENOFBLQc1 added 0.72 euros to 17.7 euros per megawatt hour (MWh) as of 0946 GMT.

The Nordic front-year contract ENOFBLYc1 increased 0.4 euros to 33.65 euros per MWh.

Dutch and British gas prices rebounded on Thursday after U.S. President Donald Trump announced an immediate 90-day pause on tariffs for many trading partners. NG/EU

"Low-pressure activity will dominate the weather over Northern Europe from the weekend onwards. This will lead to generally unsettled weather with occasional precipitation delivering near or above-normal amounts across entire Scandinavia," LSEG meteorologist Georg Muller said.

Nordic water reserves available 15 days ahead PCAEC00 were seen at 11.21 terawatt hours (TWh) above normal, compared with 13.11 TWh on Wednesday.

"If this wet windy (weather forecast) keeps continuing, I guess we have a little bit room down for prices but if it turns drier, I believe we have a lot of room up," said Stefan Barkholt Ovesen, head of power trading curve at Norlys Energy Trading.

German year-ahead power TRDEBYc1 rose 2.49 euros to 79.49 euros per MWh.

In the European carbon market, the benchmark contract CFI2Zc1 added 1.96 euros to 62.9 euros a ton.

The Nordic power price for next-day physical delivery FXSYSAL=NPX, or system price, rose 23.61 euros to 32.4 euros per MWh.