Forward steady on chances of drier, colder weather
Dec 18 (Reuters) -Nordic forward power prices were steady on Wednesday after forecasts showed chances of some dry and cold weather, although sentiment remained bearish as overall outlook suggested wetter and milder conditions amid elevated water reserves.
* Nordic front-quarter baseload power contract ENOFBLQc1 fell 0.05 euros, or 0.11%, to 47.35 euros per megawatt hour (MWh) as of 1100 GMT.
* Nordic front-year ENOFBLYc1 remained unchanged at 31.75 euros per MWh.
* "The Nordic weather outlook still suggests quite mild and wet conditions leading up to Christmas, but possibly a bit drier and cooler signals for the week between Christmas and New Year," analysts at Energi Danmark said in a note.
* "At that point, temperatures could sporadically drop below average, although the forecasts are still overall quite mild and wet."
* Nordic water reserves available 15 days ahead PCAEC00 were seen at 20.9 terawatt hours (TWh) above normal, compared with 22.48 TWh above normal on Tuesday.
* Dutch and British wholesale gas prices were down as above-normal temperatures and strong windspeeds limited gas demand for heating and for power generation. NG/EU
* In the European carbon market, the benchmark contract CFI2Zc1 was up 0.55 euro at 64.83 euros a metric ton.
* The Nordic power price for next-day physical delivery FXSYSAL=NPX, or system price, fell 22.46 euros to 24.12 euros per MWh.
Reporting by Anjana Anil in Bengaluru' Editing by Maju Samuel
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