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Nordic Next-Quarter Power Rises After Carbon, Spot Prices Climb

Nordic electricity climbed after European Union carbon advanced, and the price for power delivered tomorrow rose.

The benchmark near-quarter electricity contract gained as much as 1.3 percent to 36.40 euros ($47.92) a megawatt-hour, the highest since Jan. 24, and traded at 36.20 euros as of 2:49 p.m. on the Nasdaq OMX Group Inc.’s energy exchange in Oslo.

Electricity for delivery around the clock tomorrow will cost 39.40 euros a megawatt-hour on average, following today’s auction on the Nord Pool Spot AS exchange in Oslo. That’s 6.3 percent higher than yesterday’s price for today, and also exceeds the financial contract for tomorrow on Nasdaq OMX, which closed at 38.75 euros. Forward contracts frequently track movements in prompt prices.

EU carbon permits for December gained as much as 4.4 percent to 4.51 euros a metric ton, after earlier falling to a low of 4.03 euros on the ICE Futures Europe exchange in London. Emission prices can influence generating costs at coal and gas-fed plants.

Average Nordic temperatures for the next 15 days may be 4 degrees Celsius below seasonal average, Danish energy trading company Energi Danmark A/S said today on its website. Lower temperatures trigger higher demand for electric heating.

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