* Nordic power for Sat set at 29.12 euros/MWh
* Front-quarter gains on drier weather, stronger spot
OSLO, July 5 Nordic power prices for next-day
delivery fell on Friday mainly due to expected lower consumption
and higher imports of cheaper electricity from Germany.
The average price for delivery on Saturday was
set at 29.12 euros a megawatt-hour (MWh) at an auction, down
from 31.69 euros for Friday.
The day-ahead contract in the financial market was last
traded at 27.75 euros a MWh, indicating that the traders
expected a lower system price.
"Lower wind power output and falling hydro inflow levels
were bullish signals for the Saturday's spot, while high imports
from Germany and lower consumption were the bearish ones," an
analyst at Thomson Reuters Point Carbon said.
The German price for base power delivery on Saturday came at
26.24 euros a MWh, down from 34.41 euros for Friday.
Combined wind power output in Denmark and Sweden was
expected to fall by an hourly average of 400-1,000 MW on
Saturday from Friday.
Nordic prices for baseload delivery during the fourth
quarter firmed by 55 cents to 37.70 euros a MWh on
firmer outlook for drier weather, as well as stronger than
expected spot price.
"The new (forecast) run keeps the general trend unchanged
with high pressure dominating the weather over the continent
until around July 15 at least," said meteorologist Georg Muller.
The Nordic market gets about half its electricity from
hydropower plants, and drier weather means lower supply.
Further out on the curve, front-year prices gained
by 20 cents to 35.40 euros a MWh, while carbon and coal prices
Coal API2 year-ahead futures were trading 22
cents higher at $86.57 a tonne by 1330 GMT.
European carbon prices were down by 22 cents to
4.34 euros a tonne.