Front-quarter prices fall as water levels rise
July 22 (Reuters) -Nordic front-quarter power prices fell on Monday pressured by lower rates in the European power markets and rising water levels in the hydropower-reliant region.
* The Nordic front-quarter contract ENOFBLQc1 fell 0.65 euro to 46 euros megawatt hour (MWh) at 1224 GMT.
* Meanwhile, the Nordic front-year contract ENOFBLYc1 remained unchanged at 42.75 euros.
* Nordic water reserves available 15 days ahead PCAEC00 were seen at 3.61 terawatt hours (TWh) below normal compared with 4.53 TWh below normal on Friday.
* "Weather forecasts are slightly bullish, on the other hand, gas and carbon are slightly down, pulling down the German market as well," Oletom Djupskaas, a power analyst at LSEG, said.
* Dutch and British wholesale gas prices inched down on Monday morning on comfortable stock levels and expectations of the possible restart of the U.S. Freeport liquefied natural gas (LNG) terminal. NG/EU
* Germany's Cal'25 baseload TRDEBYc1, Europe's benchmark contract, fell 0.84 euro to 86.41 euros/MWh.
* Carbon front-year allowances CFI2Zc1 dropped 1.33 euro to 64.97 euros a tonne.
* "The latest monthly forecasts suggest a warmer scenario will emerge towards early August and will remain stable through the entire month," according to Georg Muller, a meteorologist at LSEG.
* The Nordic power price for next-day physical delivery FXSYSAL=NPX, or system price, fell 0.42 euros or 1.5% to 27.28 euros per megawatt hour (MWh).
Reporting by Rahul Paswan in Bengaluru; Editing by Mrigank Dhaniwala
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