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NORDIC POWER-Forward costs set for fifth weekly rise on drier weather condition view

Nordic forward power costs rose on Friday and were on track for their 5th successive weekly gain, supported by a forecast of drier weather in the hydropowerdependent area and higher fuel rates.

* The Nordic front-quarter agreement increased by 2 euros or 5.41% to 39 euros per megawatt-hour (MWh) by 10:50 GMT. The agreement is up 0.4% up until now this week.

* The Nordic front-year baseload power agreement climbed 0.9 euros or 1.89% to 48.6 euros/MWh and has actually risen about 3% today.

* The costs are up today as the forecast reveals temporary wet and windy conditions, with drier weather ahead and the boosts in continental power, gas, and CO2, said Sigve Ekeland, managing director, Cemon AS.

* Next week's rainfall will improve the hydro balance, but prepared for average or lower precipitation later on could damage the balance.

* Nordic water reserves available 15 days ahead were seen at 16.11 terawatt hours (TWh) below regular, compared with 14.57 TWh listed below typical on Thursday.

* Expect a hot, rainy weekend, then a cooler, rainier week, with heavy rain possible. Unsteady weather condition will continue into the next week, with regular temperature levels returning, Georg Muller, a meteorologist at LSEG, said in a forecast note.

* A return of warm and dry weather is not likely before mid-June at least.

* Carbon front-year allowances were up by 0.34 euros at 75.82 euros a tonne.

* Germany's Cal '25 baseload, Europe's. benchmark contract, rose 0.5 euros to 99.95 euros/MWh.

* The Nordic power price for next-day physical shipment. , or system price, fell 12.03 euros or 29.86% to. 28.26 euros per megawatt hour