Nov 21 (Reuters) - Nordic forward power prices rose on Thursday, helped by forecasts of colder weather and a decrease in the water reserve surplus in the hydropower-dependent region.
* Nordic front-quarter baseload power contract rose 1.35 euros or 2.44% to 56.75 euros per megawatt hour (MWh)at as of 1040 GMT.
* Nordic front-year gained 0.35 euros or 0.91% to 38.9 euros per megawatt hour (MWh)
* Nordic water reserves available 15 days ahead were seen at 8.59 terawatt hours (TWh) above normal, compared with 9.08 terawatt hours (TWh) above normal on Wednesday.
* There will be a new spell next week "with temperatures below or around average. Precipitation amounts are set to vary accordingly and the hydro balance surplus is rather stable around 9 TWh right now," analysts at Energi Danmark said in a note.
* "The first signals today are somewhat more bullish as the forecasts are still a bit uncertain concerning next week and related markets rise."
* European spot power prices fell on forecasts for higher wind generation and lower demand in main market, Germany, while forward contracts rose along with gains in related fuels and carbon markets.
* Dutch and British wholesale gas prices hit a one-year intraday high amid a cold weather forecast and concerns over Russian supply and storage inventories being lower than last year's level.
* In the European carbon market, , the benchmark contract edged up 0.82 euros to 69.23 euros a metric ton.
* In the Nordic region, "tomorrow and the weekend will still be cold and inactive with few snow showers only. Temperatures will be below normal," Georg Muller, a meteorologist at LSEG said in a note.
* The Nordic power price for next-day physical delivery
, or system price, fell 3.42 euros or 6.23% to 51.51 euros per megawatt hour (MWh).
(Reporting by Anjana Anil in Bengaluru; Editing by Tasim Zahid)
((Anjana.Anil@thomsonreuters.com;))
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