June 11, 2019 / 12:26 PM / 8 days ago

NORDIC POWER-Forward prices fall on wet weather forecast

June 11 (Reuters) - Nordic forward power prices slipped on Tuesday, pressured by forecasts for wetter weather in the hydropower-dependent region.

* Nordic front-quarter baseload power contract fell 0.45 euros to 32.70 euros per megawatt hour (MWh) by 1122 GMT.

* Nordic front-year lost 0.1 euro to 35.15 euros/MWh.

* Prices are falling as the latest weather forecasts came out wetter and the Nordic hydrological balance is likely to continue its recovery, said Arne Bergvik, chief analyst at Jämtkraft.

* Nordic water reserves available 15 days ahead were seen at 1.34 terawatt hours (TWh) above normal, compared with 0.92 TWh above normal on Friday.

* This week and the first few days of the next week will be partially cloudy with moderate to heavy rainfall in some of the Scandinavian regions, said Georg Muller, a meteorologist at Refinitiv.

* Southern Scandinavia is expected to receive higher rainfall, with the rest of the region forecast to receive near-normal rainfall, Muller said.

* European next-year coal prices fell $0.15 to $66.60 a tonne.

* Carbon front-year allowances eased 0.19 euros to 25.01 euros a tonne.

* The Nordic power price for next-day physical delivery , or system price, fell 0.3 euros to 29.84 euros per MWh at an auction on the Nord Pool exchange, below analysts’ estimates of 30.1 euros/MWh. (Reporting by Diptendu Lahiri in Bengaluru)

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