NORDIC POWER-Spot seen down on lower exports, higher wind output
* Nordic spot price for Weds seen at 30.1 euros/MWh
* Front-quarter falls on wetter weather forecast
OSLO, Oct 2 (Reuters) - Nordic spot power prices are expected to fall on higher wind and nuclear output, and lower exports to Germany, analysts said on Tuesday.
The Nordic average day-ahead power price
Wednesday's delivery is expected to settle at 30.1 euros a megawatt-hour (MWh), down from 31.8 euros on Tuesday, analysts at Point Carbon said.
Reduced demand from Germany was expected because of the German Unity Day public holiday on Wednesday, they said.
At Sweden's Ringhals nuclear plant, the Ringhals-1 reactor is expected to ramp up production to full output of 865 MW from 100 MW, and the Ringhals-4 reactor to 940 MW from 680 MW, the plant's operator told the Nordic stock exchange.
Combined wind power output in Denmark and Sweden was forecast to rise by an hourly average of 710 MW to 2,030 MW on Wednesday.
The market was more bearish on the spot price for Wednesday. The day-ahead contract was traded at 29.0 euros a MWh by 0900 GMT.
The contract for baseload (24 hours) power delivery in the first quarter
fell by 60 cents to 40.8 euros a MWh from Monday's close.
An Oslo-based trader said he expected the front quarter to be traded in the range between 39 euro and 43 euros a MWh.
"It's very much dependent on the weather. Until something actually changes we are going to stick around here," he added.
The latest 15-day weather forecast showed total precipitation levels for the period rising to 3.1 terawatt-hours (TWh) above normal compared to the 1.6 TWh forecast early on Monday.
The Nordic region relies on hydroelectric power for more than 50 percent of its power generation. Rain boosts hydro power capacity, pushing down prices.
At the far end of the curve, the Nordic contract for baseload power delivery next year
was down 35 cents to 37.05 euros a MWh by 0915 GMT, in step with falling carbon and coal prices.
Both European carbon prices and coal API2 2013 futures were trading slightly down by 0915 GMT on Tuesday, a bearish factor for power prices.
Brent crude futures steadied near $112 a barrel as investors weighed a weaker outlook for demand due to a sluggish global economy, and potential supply disruptions.
(Reporting by Nerijus Adomaitis; Editing by Pravin Char)
Keywords: MARKETS NORDIC/ELECTRICITY