November 12, 2018 / 11:02 AM / a month ago

NORDIC POWER-Forward prices rise on drier outlook, lower water levels

Nov 12 (Reuters) - Nordic forward power prices rose on Monday, supported by forecasts for drier weather, falling water levels and stronger coal and carbon prices.

* Nordic front-quarter baseload power contract rose 2.2 euro to 50.45 euros per megawatt hour (MWh) at 1019 GMT

* Nordic front-year contract gained 1.72 euros to 40.80 euros/MWh

* Less precipitation and lower temperatures are lifting prices, Ishavskraft portfolio manager Olav Grunde Lauvdal said, adding higher carbon rates are also supporting prices

* Nordic water reserves available 15 days ahead were seen at 7.9 terawatt hours (TWh) below normal versus 6.8 TWh below normal on Friday

* Carbon front-year allowances were up 0.63 euro to 20.13 euro a tonne

* European next-year coal prices rose $1.50 to $89.75 a tonne

* Weather in Scandinavia is expected to grow drier and colder, said Georg Muller, a meteorologist at Refinitiv Refinitiv analyst view: here here (Reporting by Brijesh Patel in Bengaluru; editing by Jason Neely)

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