Iberian power prices fall going into weekend

* Wind power output edges up with demand set to dip

LONDON, Nov 13 (Reuters) - Iberian spot power prices fell again on Friday on expectations of lower demand over the weekend.

The pool price on the Omel exchange in Spain fell to 31.28 euros/megawatt hour for Saturday baseload, compared to 34.02 euros set on Thursday for Friday baseload.

Demand for power is lower on Saturday and Sunday than during the working week and prices generally reflect that by falling going into the weekend.

After hitting a record high of over half of Spain's total power demand last weekend, wind power output fell through the week, dipping below 15 percent of demand on Thursday, according to grid operator Red Electrica.

Wind power output climbed back to just below 20 percent on Friday, helping push down prices because the cost of production is lower than for gas or coal-fired power plants, while nuclear output remained steady.

In the over-the-counter market December contracts were almost unchanged at 36.50 euros, while calendar year 2010 baseload contracts traded at 40.25 euro, according to one broker. (Reporting by Daniel Fineren, editing by Anthony Barker)