* Nordic power for Sat set at 29.12 euros/MWh
* Front-quarter gains on drier weather, stronger spot
OSLO, July 5 (Reuters) - 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 diverged.
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.