Nordic electricity for the next quarter fell for the first time in four days as European Union emissions permits and German power prices dropped.
The benchmark next-quarter contract in the Nordic region declined as much as 1 percent to 36.20 euros ($47.91) a megawatt-hour before settling at 36.35 on Nasdaq OMX Group Inc.’s energy exchange in Oslo.
EU carbon permits for December declined 7.9 percent to 4.78 euros a metric ton, after earlier falling as much as 11 percent on the ICE Futures Europe exchange in London. Emission prices can influence generation costs at coal- and gas-fed plants.
German power for baseload delivery next quarter fell for the first time in four days, dropping 1.1 percent to 37.30 euros a megawatt-hour, according to broker data compiled by Bloomberg.
The Nordic region gets more than half of its power from hydroelectric plants. The water and snow available to generate electricity in the region may be 16.4 terawatt-hours below normal for the time of year in two weeks, up from minus 16.7 terawatt-hours today, Markedskraft AS data on Bloomberg show.
Temperatures in Norway will average minus 3.4 degrees Celsius (26 Fahrenheit) through March 7, down from an earlier forecast of minus 1.1, MetraWeather data using the ECMWF model show. Lower temperatures boost demand for electric heating.
Nordic power for next week advanced 0.7 percent to 40.70 euros a megawatt-hour.
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