NORDIC POWER-Stronger wind, lower consumption to weigh on spot
* Weekend spot price seen falling to around 32 euros/MWh
* Front-quarter inches up on slightly drier weather fcast
OSLO, Oct 12 (Reuters) - Stronger winds and lower consumption will drag down Nordic spot power prices for the weekend, analysts at Point Carbon said on Friday.
The Nordic average day-ahead power price
Saturday delivery was expected to ease to 32.5 euros per MWh and to 32.4 euros on Sunday, compared with 36.6 euros on Friday.
"Wind power output in Denmark and Sweden is forecasted to rise by hourly average of 580 MW on Saturday, while the load is to fall by 2,970 MW," a Point Carbon analyst said.
Finnish 496-megawatt Loviisa-2 nuclear power plant was expected to be back after maintenance on Saturday, boosting the supply, he added.
The spot price is seen recovering to 36.3 euros a MWh on Monday on higher consumption, and likely increase in exports to Germany, Point Carbon said.
Nordic forward prices recovered slightly on Friday morning after falling for the previous two sessions, but the liquidity was low.
The contract for baseload (24 hours) power delivery in the first quarter
rose by 35 cents to 41.70 euros per MWh by 0845 GMT, compared with Thursday's close.
The latest weather forecasts for the next 15 days confirmed the precipitation levels to be slightly drier, but close to normal.
"Marginal cost of coal power production have been falling, so the only bullish factor is slightly drier weather forecast, but the volumes traded a low," a Norway-based utility trader said.
The Nordic region relies on hydroelectric power for more than 50 percent of its power generation, and change in precipitation is an important factor in setting prices.
The Nordic contract for baseload power delivery next year
gained by 15 cents to 37.80 euros per MWh, and the turnover was only 8 MW. Coal API2 2013 futures fell below $96 a tonne, while European carbon prices were unchanged 7.81 euros a tonne. Brent crude
slipped below $115 a barrel by 0845 GMT after the International Energy Agency said the world could see a gradual easing of oil prices over the next five years.
Sluggish global economic growth, increasing energy efficiency and production boost in Iraq and north America.
(Reporting by Nerijus Adomaitis, editing by William Hardy)
Keywords: MARKETS NORDIC/ELECTRICITY