Another week of major price climbs

Focus week 35: Nordic electricity prices experienced substantial climbs last week. The hydro-balance surplus is decreasing, and spot prices have permanently stabilised at a much higher level than we saw earlier in the summer.

Here and now

There were further price climbs in the Nordic energy market last week. On Monday in particular we experienced a steep price jump on the basis of drier weather, climbing prices in the carbon market and in the German energy market, as well as a generally higher appetite for risk across the markets. The hydro-balance surplus has now fallen to just 5 TWh, a further weakening since last week. As a result the market is still up, and the Q4-20 contract now costs EUR 23.40/MWh, a whole EUR 5.10/MWh more than last week. The YR-21 contract has climbed to EUR 23.92/MWh, an increase of EUR 2.97/MWh for the week.

Read Focus here.