- Nordic front-year fell 11.45 euros ($13.89), or 5.4%, to 25.25 euros per megawatt hour (MWh).
- Nordic front-quarter baseload power contract fell 3.35 euros, or 12.3%, to 23.80 euros/MWh.
Nordic forward power prices slid on Monday, with the front-year contract set for its worst day in nearly six weeks, weighed by lower emission rates and forecasts for warmer weather in the Nordic region.
Nordic front-year fell 11.45 euros ($13.89), or 5.4%, to 25.25 euros per megawatt hour (MWh) at 1301 GMT, on track to record its biggest percentage loss since Jan. 13.
Nordic front-quarter baseload power contract fell 3.35 euros, or 12.3%, to 23.80 euros/MWh.
Bearish rates for carbon, German power and forecasts for warmer weather in the Nordic region are weighing on the power contracts, said Ole Tom Djupskaas, a power analyst with Refinitiv.
The coming nine out of 10 days in the Nordic region will have temperatures above 0 degree Celsius, Refinitiv data shows.
The rest of this week will be rather windy and unsettled in the central and southern parts with occasional rains, said Georg Muller, a meteorologist at Refinitiv.
Nordic water reserves available 15 days ahead were seen at 0.17 terawatt hours (TWh) above normal, compared with 2.3 TWh below normal on Friday.
Carbon front-year allowances eased 0.75 euro to 36.65 euros a tonne.
Germany's Cal '22 baseload, Europe's benchmark contract, fell 0.1 euro to 51.60 euros/MWh.
The Nordic power price for next-day physical delivery , or system price, fell 4.3 euros to 39.21 euros/MWh at an auction on the Nord Pool exchange, coming below analysts' average estimates of 41.40 euros/MWh.
Expectations of higher water inflow and lower consumption on Tuesday is weighing on the spot prices, according to Refinitiv power analyst Mulugeta Hadis Amare.