Nordic front-quarter prices fall on weaker related markets, wetter weather view
UNG•Nordic front-quarter baseload power fell €1.3, or 1.12%, to €115 per megawatt hour on Friday, though it was up 4.2% for the week. Weaker gas and German power markets and a wetter outlook pressured prices.
1. Prices slip
The Nordic front-quarter baseload power contract fell €1.3, or 1.12%, to €115 per megawatt hour at 1201 GMT on Friday, but was up 4.2% for the week. An analyst said lower gas prices had pushed down German power contracts and then Nordic contracts.
2. Weather and reserves
Forecasts showed frequent rain or showers bringing near- or above-normal precipitation through at least the end of the following week. Nordic water reserves available 15 days ahead were 10.98 terawatt hours below normal on Friday, compared with 10.77 TWh below normal on Thursday; an analyst expected reserves to remain 11 TWh below normal two weeks ahead.
3. Other energy markets
Dutch and British gas prices edged lower on stable supply and mild European weather that curbed demand. Germany's 2026 baseload contract was unchanged at €129.85 per MWh after falling earlier, while front-year carbon allowances fell €0.66, or 0.77%, to €84.98 a ton.
