Jan 21 (Reuters) - Nordic front-quarter power prices extended declines to a more than one-week low on Tuesday, pressured by forecasts for wetter weather in the hydropower-dependent region and an uptick in water levels.

* By 0958 GMT, Nordic front-quarter baseload power contract

fell 0.5 euros or 2.78% to 17.5 euros per megawatt hour (MWh), its lowest since Jan. 10.

* Nordic front-year lost 0.5 euros or 1.47% to 33.6 euros per MWh.

* A warm, wet and windy weather forecast for the Nordic region into February means strong hydrological balances pushing price expectations lower, Sigbjørn Seland, chief analyst at StormGeo Nena Analysis said.

* Adding further pressure, Nordic water reserves available 15 days ahead were at their highest levels in over a week at 21.95 terawatt hours (TWh) above normal, compared with 21.62 TWh on Monday.

* "The coming weekend and next week will be generally milder and more active with occasional rain, especially in the west and south. Precipitation amounts will be mostly above normal," Georg Muller, a meteorologist at LSEG, said in a note.

* Dutch and British wholesale gas prices mostly rose as withdrawals from gas storage sites, and some uncertainty over liquefied natural gas $(LNG)$ supply continued to provide support.

* In the European carbon market, the benchmark contract

fell 0.39 euros or 0.49% to 79.6 euros a tonne.

* German year-ahead power fell 0.3 euros or 0.31% to 95.5 euros per MWh.

* The Nordic power price for next-day physical delivery

, or system price, fell 35.39 euros or 44.74% to 43.72 euros per MWh.

(Reporting by Ishaan Arora in Bengaluru; Editing by Tasim Zahid)

((Ishaan.Arora@thomsonreuters.com;))