NORDIC POWER-Forward prices gain on higher European energy rates, declining water levels
April 10 (Reuters) - Nordic forward power prices rose on Thursday, taking cues from gains in the wider European energy markets, while a downtick in water reserves also helped prices.
* The Nordic front-quarter baseload power contract ENOFBLQc1 added 0.72 euros to 17.7 euros per megawatt hour (MWh) as of 0946 GMT.
* The Nordic front-year contract ENOFBLYc1 increased 0.4 euros to 33.65 euros per MWh.
* Dutch and British gas prices rebounded on Thursday after U.S. President Donald Trump announced an immediate 90-day pause on tariffs for many trading partners. NG/EU
* "Low-pressure activity will dominate the weather over Northern Europe from the weekend onwards. This will lead to generally unsettled weather with occasional precipitation delivering near or above-normal amounts across entire Scandinavia," LSEG meteorologist Georg Muller said.
* Nordic water reserves available 15 days ahead PCAEC00 were seen at 11.21 terawatt hours (TWh) above normal, compared with 13.11 TWh on Wednesday.
* "If this wet windy (weather forecast) keeps continuing, I guess we have a little bit room down for prices but if it turns drier, I believe we have a lot of room up," said Stefan Barkholt Ovesen, head of power trading curve at Norlys Energy Trading.
* German year-ahead power TRDEBYc1 rose 2.49 euros to 79.49 euros per MWh.
* In the European carbon market, the benchmark contract CFI2Zc1 added 1.96 euros to 62.9 euros a ton.
* The Nordic power price for next-day physical delivery FXSYSAL=NPX, or system price, rose 23.61 euros to 32.4 euros per MWh.
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