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Nordic Electricity Prices Increase as Drier Weather Forecast

April 29 (Bloomberg) -- Price of electricity for delivery from July through September gains 1.8% to EU37.60/MWh on Nasdaq OMX Group’s energy exchange at 1123am in Oslo. * Hydro and snow levels forecast to be 20.8TWh below seasonal norm in two weeks, compared with 20.7TWh estimated on April 26, Markedskraft data on Bloomberg show * “Weather forecasts indicate a drier development at end of the prediction period, underpinning prices, while other price-driving factors are little changed”: Anders Engkvist, chief analyst at power trader Bixia in Linkoeping, Sweden * NOTE: Nordic area meets more than half of power needs by running water through turbines * Nordic May contract rises 1.8% to EU36.80/MWh

To contact the reporter on this story: Torsten Fagerholm in Helsinki at tfagerholm@bloomberg.net

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net

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