Forward prices slip on wet weather view, lower European rates
Oct 1 (Reuters) -Nordic forward power prices eased on Tuesday, pressured by lower European energy rates and forecasts for wetter weather in the hydropower-dependent region.
* Nordic front-quarter power contract ENOFBLQc1 fell 1.6 euros to 57.4 euros per megawatt hour (MWh) at 1039 GMT. The contract rose to its highest in close to nine months earlier in the session.
* Nordic front-year ENOFBLYc1 lost 0.75 euros to 39.75 euros per MWh.
* "It could also be a reaction to the lift yesterday. That said, it's not very easy to follow all the ups and downs, but as it looks today, the Nordic power is down together with continental power, gas and emissions," said Sigve Ekeland, managing director at Cemon AS.
* Dutch and British wholesale gas prices fell on Tuesday morning on profit taking after recent gains along with a comfortable storage position and forecasts of mild weather. NG/EU
* "The weekend and next week will be generally cloudier and unsettled in the south too and entire Scandinavia will see near or above normal rain and close to seasonable temperatures," Georg Muller, a meteorologist at LSEG, said in a note.
* Germany's Cal'25 TRDEBYc1, Europe's benchmark contract, dropped 1.4 euros to 85.45 euros per MWh.
* Carbon front-year allowances CFI2Zc1 fell 1.92 euros to 63.64 euros a tonne.
* Nordic water reserves available 15 days ahead PCAEC00 were seen at 6.93 terawatt hours (TWh) above normal, compared with at 6.95 TWh above normal on Monday.
* The Nordic power price for next-day physical delivery FXSYSAL=NPX, or system price, rose 6.05 euros to 27.9 euros per MWh.
Reporting by Rahul Paswan in Bengaluru; Editing by Shreya Biswas
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