Nordic forward power prices rose on Friday, helped by expectations for drier weather and declining water reserves in the hydropower-dependent region.
Nordic front-quarter baseload power contract rose 0.25 euro to 46.65 euros per megawatt hour (MWh) at 1036 GMT.
Nordic front-year contract gained 0.35 euro to 36.85 euros/MWh.
Drier weather forecasts for the coming weeks are supporting prices, said Tor Reier Lilleholt, head of analysis at Wattsight.
Nordic water reserves available 15 days ahead were seen at 6.6 terawatt hours (TWh) below normal, as against 4.8 TWh below normal on Thursday.
Mild and mostly inactive weather expected in Scandinavia, said Georg Muller, a meteorologist at Refinitiv.
“Sustained wet weather or major colder than normal spells are not likely to occur (in Scandinavia) before November 15 at least,” Muller added.
Carbon front-year allowances firmed 0.41 euro to 16.03 euro a tonne.