NORDIC POWER-Spot seen down on higher wind power, lower load
* Nordic spot price for Saturday seen at 29.8 euros/MWh
* Wind power output expected to rise by 920 MW
OSLO, Oct 5 (Reuters) - Nordic prompt power prices were expected to fall over the weekend on higher wind output and lower consumption, analysts said on Friday.
The Nordic average day-ahead power price
Saturday's delivery is expected to fall to 29.8 euros a megawatt-hour (MWh) and to 27.8 euros for Sunday, compared to 32.23 euros on Friday, analysts at Point Carbon said.
"Consumption is supported somewhat by the cooler weather, but because of the weekend effect the load is down by 2,900 MW on Saturday and 3,700 MW on Sunday," a Point Carbon analyst added.
Wind power output in Denmark and Sweden was expected to gain by an hourly average of 920 MW on Saturday and by 1,890 MW on Sunday from Friday.
Also, German spot price is expected to come below Nordic price on Sunday, reducing exports to the continent by 1,500-2,000 MW, analysts added.
Point Carbon expects the price to rebound to 32.4 euros a MWh on Monday on higher consumption, calmer winds and some 1,300 MW of hydro power production capacities going offline.
The contract for baseload (24 hours) power delivery in the first quarter
was trading up 40 cents to 41.75 euros a MWh by 0930 GMT compared to Thursday's close.
"It looks like the Nordic market is following the German market, which is stronger today, and on top we have a more bullish weather forecast," an Olso-based trader said, explaining the move.
The latest weather forecasts showed drier and colder weather early next week, with falling temperatures to boost the consumption.
The Nordic region relies on hydroelectric power for more than 50 percent of its power generation, and changes in precipitation is an important factor in setting prices.
The Nordic contract for baseload power delivery next year
was up by 15 cents to 37.50 euros a MWh, supported by higher coal prices. Coal API2 2013 futures rose by $1 to $97.75 a tonne, while European carbon prices firmed slightly to 7.75 euros a tonne by 0845 GMT.
Brent futures slipped below $112 per barrel on Friday as rising tensions in the Middle East battle with perennial worries about the global economy and oil demand.
(Reporting by Nerijus Adomaitis, editing by William Hardy)
Keywords: MARKETS NORDIC/ELECTRICITY