Drier weather forecast for Nordic region

Focus week 20: Drier weather forecasts and a decreasing hydro-balance surplus resulted in a single day of price climbs in the Nordic energy market last week. Fluctuations remained minor on most days.

Here and now

The long-term trend of relatively minor fluctuations in the Nordic energy market continued at the start of last week. On Friday, however, the sideways trading was replaced by climbing prices, which were the result of a clear shift in the weather forecasts. The hydro-balance surplus also decreased. This meant that prices across the forward market ended the week with increases, approaching 10% for the short-term contracts in the market. The Q3-20 contract now costs EUR 9.80/MWh, an increase of EUR 0.95/MWh, while the YR-21 contract has climbed by EUR 1.10/MWh, closing at EUR 22.70/MWh on Monday.

Read Focus here.