Nordic forward power prices gained on Monday, helped by drier-than-normal forecasts for the hydropower-dependent region, while higher fuel and emissions rates provided a further fillip.

Nordic front-quarter baseload power contract rose 0.95 euro to 24.60 euros per megawatt hour (MWh) at 1150 GMT.

Nordic front-year gained 0.35 euro to 25.85 euros/MWh.

Weather forecasts relatively drier than Friday's are supporting the quarterly contract, while higher rates for fuel and emissions are lifting the yearly one, said Ole Tom Djupskaas, a power analyst with Refinitiv.

European next-year coal prices rose 55 cents to $69.05 a tonne.

Carbon front-year allowances firmed 0.41 euro to 37.69 euros a tonne.

"The next several days will be dry and rather mild in the south while the north will be slightly unsettled with moderate rain or snow," said Georg Muller, a meteorologist at Refinitiv.

Nordic water reserves available 15 days ahead were seen at 1.25 terawatt hours (TWh) below normal, compared with 0.3 TWh below normal on Friday.

The Nordic power price for next-day physical delivery , or system price, rose 2.48 euro to 35.22 euros/MWh at an auction on the Nord Pool exchange and came above analysts' average estimates of 34.60 euros/MWh.

In the financial market, the day-ahead contract was last traded at 34.95 euros/MWh.