April 15, 2019 / 11:58 AM / 3 months ago

NORDIC POWER-Forward prices rise on stronger carbon and coal rates, dry weather view

April 15 (Reuters) - Nordic forward power prices rose on Monday on drier weather forecasts in the hydropower-dependent region, further supported by stronger coal and carbon prices.

* Nordic front-quarter baseload power contract rose 0.25 euro to 42.55 euros per megawatt hour (MWh) at 1126 GMT.

* Nordic front-year gained 0.44 euro to 38.20 euros/MWh.

* High pressure will bring very dry weather for the week to Scandinavia as well as northern continental Europe, according to the Swedish Meteorological and Hydrological Institute (SMHI).

* Coal and carbon prices are the main forces driving prices up, according to Sigbjørn Seland, chief analyst at StormGeo Nena Analysis in Oslo.

* Nordic water reserves available 15 days ahead were seen at 7.05 terawatt hours (TWh) below normal, as compared with 8.2 TWh below normal on Friday.

* European next-year coal prices rose $1.40 to $76.00 a tonne.

* Carbon front-year allowances firmed 0.47 euro to 27.05 euros a tonne.

* The Nordic power price for next-day physical delivery , or system price, fell 0.35 euro to 45.05 euros per MWh at an auction on the Nord Pool exchange. (Reporting by Diptendu Lahiri in Bengaluru; Editing by Shailesh Kuber)

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