NORDIC POWER-Forward prices drop on lower European gas, power markets

June 18 (Reuters) - Nordic forward power prices fell on Thursday, pressured by falling related markets and a slight improvement in hydro reserves.

* The Nordic front-quarter baseload power contract NSBLQc1 fell €0.88, or 1.7%, to 50.5 per megawatt hour (MWh) at 1408 GMT.

* The Nordic front-year power contract NSBLYc1 lost €0.8, or 1.7%, to €46.35 per MWh.

* "The market has at least initially returned to the bearish sentiment due to the price falls on related markets so we consider price falls in the Nordics likely as well," Mind Energy analysts said in a note.

* Benchmark Dutch and British wholesale gas prices fell on Thursday morning as the U.S. and Iran released the text of an interim agreement their presidents have signed to end their war, and as more vessels cross the Strait of Hormuz. NG/EU

* European electricity day-ahead prices fell on Thursday as wind power generation is expected to rise slightly and demand is seen down in Germany.

* The German day-ahead TRDEBD1 power price fell 26.6% to €112.25 ($128.82) per megawatt hour at 0830 GMT according to LSEG data. EL/DE

* Nordic water reserves PCAEC00 have been negative since late December. It was at 15.26 terawatt hours (TWh) below normal on Thursday, compared to 16.93 TWh below normal on Wednesday.

* "Rather near normal conditions through the next two weeks, but the south will be partially warm and dry," LSEG meteorologist George Muller said.



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