NORDIC POWER-Spot prices to rise on lower wind, nuclear output

* Friday spot prices seen at 28.1 euros/MWh
* Reduced Oskarshamn 3 nuclear output on Friday
* Wind power to drop by 670 MW
* Weak oil market pulls down forwards

LONDON, Sept 20 (Reuters) - Nordic spot electricity prices
are expected to rise on Friday on lower wind and nuclear power
and as colder weather pushes up demand, analysts said on
Wednesday.
The Nordic average day-ahead power price for
Friday delivery is expected to rise to 28.1 euros per
megawatt-hour (MWh), up from 27.1 euros on Thursday, analysts at
Point Carbon said.
"The spot price continues up because of the cold spell and
lower wind power output and tests at Oskarshamn (nuclear
reactor)," Point Carbon said.
E.ON's 1,400 megawatt (MW) Oskarshamn 3 nuclear
reactor is scheduled to perform a test on Friday, leading to a
power reduction of 200 MW in the morning before output is
gradually increased back to full power within 25 hours.
Renewable electricity capacity was also expected to drop,
with meteorologists saying that Sweden and Denmark would produce
670 MW less wind power on Friday than they are expected to
generate on Thursday.

FORWARDS PULLED DOWN BY OIL
Further out on the curve, the picture was bearish and
movements were dominated by recent volatility in the oil market.
Nordic power prices for baseload (24 hours) delivery in the
fourth quarter were trading at 36.90 euros per MWh on Thursday
morning, down from a high of 37.55 euros the previous day.
Nordic baseload power prices for delivery in 2013 were
trading at 37 euros per MWh, down from a Thursday high of 37.45
euros.
Traders said that the price drops were largely a result of
even steeper falls seen in oil prices this week after reports of
declining Chinese manufacturing activity.
Front-month Brent crude prices have fallen from over $117
per barrel at the beginning of this week to under $108 a barrel
on Thursday morning.
"When there are such marked price movements in the oil
market, it is hard to ignore them in other energy products so
the trend is showing downward for power at the moment as well,"
one financial power trader said.
Earlier this week, oil markets were shaken by unusual
trading activity that saw a single large sell order in the
benchmark European Brent oil market, followed by an abrupt
U-turn among high-frequency traders causing a huge price rout.

In the coal markets, API2 2013 futures contracts remained
below $100 per tonne.
The contract has been in a constant downward spiral since
summer 2011 and has shed over 25 percent in value since then.

(Reporting by Henning Gloystein; Editing by Alison Birrane)