NORDIC POWER — Forward prices fall on milder weather view, weaker gas

Oct 14 (Reuters) — Nordic power prices eased on Wednesday after hitting multi-year highs in the previous session on milder weather forecasts, while softer European gas prices added to downward pressure. Nordic front-quarter baseload power contract was down €3.12, or 2.63%, to €115.5 per megawatt hour (MWh) at 1019 GMT. Nordic front-year lost €1.2, or 1.67%, to €70.70 per MWh. Both contracts hit highest levels in more than three years in the previous session. "The weather forecasts are milder than what we saw yesterday, the next two weeks now look overall milder than seasonal average, with only very brief periods around or below normal...this is enough to trigger a downwards correction," said Karsten Sander Nielsen, senior market analyst at Mind Energy, adding that the related markets were also down. "The next days until the weekend will still be unsettled and in the west also quite wet with above normal rain," said LSEG meteorologist Georg Mueller, adding that the week after next week will likely be similar, with mostly below-normal rain and near normal temperatures. Benchmark Dutch and British wholesale gas prices eased on Wednesday, contributing further to downward price pressure