NORDIC POWER-Front-quarter prices edge down on wet weather forecast

March 11 (Reuters) - Nordic front-quarter prices slipped on Wednesday, pressured by forecasts of wet weather and improving water reserves in the hydropower-dependent region.

Nordic front-quarter baseload power contract ENOFBLQc1 fell 1.25 euros, or 2.4%, to 51.1 per megawatt hour (MWh) at 1104 GMT.

Nordic front-year power contract ENOFBLYc1 gained 0.4 euros, or 0.9%, to 44 euros per megawatt hour (MWh).

"We expect another day with price falls today as the weather outlook appears quite mild, wet and windy looking at the next couple of weeks," Mind Energy analysts said in a note.

Nordic water reserves available 15 days ahead PCAEC00 improved marginally and were seen at 21.69 terawatt hours (TWh) below normal, compared with 22.54 terawatt hours (TWh) below normal on Tuesday.

"The resulting weather will be generally unsettled with near or above normal rain and above normal temperatures until the end of the next week," said LSEG meteorologist Georg Mueller.

Meanwhile, benchmark European and British wholesale gas prices rose on Wednesday morning after reports of Iran laying mines in the Strait of Hormuz raised concerns over liquefied natural gas supply. NG/EU

Power prices for Germany's year-ahead contract TRDEBYc1, Europe's benchmark, rose 0.5 euros, or 0.5%, to 92.75 euros per MWh.

In the European carbon market CFI2Zc1, the benchmark contract rose 0.67 euros, or 0.9%, to 73.58 euros a ton.

Meanwhile, the Nordic power price for next-day physical delivery FXSYSAL=NPX, or system price, was down 42.31 euros, or 41.3%, to 60.04 euros per megawatt hour (MWh).