POWER: Nordic October Power Rises on Drier Weather

Nordic front-month power futures have opened higher amid a sharp downward revision in precipitation forecasts and downward revisions in the region's hydro balances. This is weighed against slightly lower EU gas prices and continued forecasts for mild weather/ * Nordic Base Power OCT 26 up 1.3% at 100.5 EUR/MWh * Nordic Base Power 4Q26 up 2.4% at 106.5 EUR/MWh * Germany Base Power OCT 26 down 1% at 160.7 EUR/MWh * TTF Gas OCT 26 down 1.3% at 72.365 EUR/MWh * EUA DEC 26 up 0.4% at 87.12 EUR/MT * The Norwegian hydro balance forecast has been revised down for late September/early October, however, the balance is forecast to end at levels near the previous run at -9.3TWh, Bloomberg data showed. * Sweden's hydro balance forecast has been sharply revised lower with the balance forecast to end at -317GWh on 10 October versus -105GWh in the previous run, Bloomberg data showed. * Latest precipitation forecasts for the Nordics have been revised down with rainfall to total 19.2mm between 24 Sept-7 October, below the seasonal average of 39.3mm. * The latest two-week ECMWF weather forecast for the Nordics suggests mean temperatures will rise this week to remain well above normal through the fore