Spot prices continue to climb

Focus week 34: For the first time in three months, the Nordic system price climbed above EUR 10/MWh this week. Hydro-power producers have been able to raise prices in the dry weather.

Here and now

While spot prices are rising, the trend in the forward market has been very different in the last week. As the days passed, weather forecasts became increasingly wet and mild and at the start of week 34 the forecasts all indicate wetter and milder weather starting in a few days. This has resulted in price falls in the immediate quarter contract, Q4-20, which now costs EUR 18.30/MWh, EUR 0.50/MWh less than one week ago. The YR-21 contract has not fallen quite as much. It is now trading at a market price of EUR 20.95/MWh, EUR 0.25/MWh less than last week.

Read Focus here.