Forward prices extend gains on drier, cooler weather view
Sept 30 (Reuters) -Nordic forward power prices extended gains on Monday helped by cooler and drier weather forecasts in the region and higher European gas prices.
* Nordic front-quarter power contract ENOFBLQc1 rose 1.05 euros to 43.25 euros per megawatt hour (MWh) at 1113 GMT. The contract added 6.5% so far this month.
* Nordic front-year ENOFBLYc1 gained 0.35 euros to 40.2 euros per MWh. However, the contract fell 5.2% so far this month.
* Nordic power market continued the uptrend due to the combination of calm and dry weather forecasts for the coming weeks and geopolitical uncertainties that drive gas markets up, analysts at Energi Danmark said in a note.
* Dutch and British wholesale gas prices edged higher on concerns over Middle East conflict escalation as Israel steps up attacks in Lebanon and Yemen, but strong storage inventories limit further upside potential. NG/EU
* "The next three days will be quite calm and dry in the south... cool air from the Arctic will bring near or below normal temperatures," Georg Muller, a meteorologist at LSEG, said in a note.
* Germany's Cal'25 TRDEBYc1, Europe's benchmark contract, dropped 0.35 euros to 87.45 euros per MWh.
* Carbon front-year allowances CFI2Zc1 fell 0.3 euros to 66.03 euros a tonne.
* Nordic water reserves available 15 days ahead PCAEC00 were seen at 6.95 terawatt hours (TWh) above normal, compared with at 3.72 TWh above normal on Friday.
* 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 Vijay Kishore
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