NORDIC POWER-Forward prices edge up on low water reserves

March 24 (Reuters) - Nordic forward power prices ticked up on Tuesday, as tighter water reserves in the hydropower-dependent region offset the impact of a weaker European gas market.

Nordic front-quarter baseload power contract 0#NSBLQ: was up 1.4% to 53.46 euros per megawatt hour (MWh) at 1045 GMT.

Nordic front-year power contract 0#NSBLY: ticked up 0.4%, to 46.50 euros per MWh.

"The hydro balance remains in a noticeable deficit following the long, cold winter and this continues to limit the downside on the Nordic power market significantly," Mind Energy analysts said in a note.

Nordic water reserves PCAEC00 were at 23.84 terawatt hours (TWh) below normal, compared to 23.61 TWh below normal on Friday.

Dutch and British wholesale gas contracts extended losses on Tuesday morning, following a sharp drop in the previous session, after U.S. President Donald Trump said he would postpone military strikes on Iran and that a deal with Iran could be reached "within five days or sooner". NG/EU

In the European carbon market CFI2Zc1, the benchmark contract fell 0.9 euros, or 1.3%, to 68.36 euros a metric ton.

Power prices for Germany's year-ahead contract TRDEBYc1, Europe's benchmark, were steady at 97 euros per MWh.

The Nordic power price for next-day physical delivery FXSYSAL=NPX, or system price, rose 22.15 euros to 28.04 euros per megawatt hour (MWh).