Snow melting delayed by cold weather

Focus week 17: The prolonged cold period in the Nordic region now means that the snow will remain in the mountains for longer than normal, putting pressure on hydro-power producers.

Here and now

Compared to last week, the forward prices in the Nordic energy market are relatively unchanged. It is especially remarkable how small the fluctuations currently are in the long-term contracts in the market, despite the fact that the fuel and carbon markets and German electricity prices are continuing to climb. Over the last two weeks, there has not been a single day with any notable fluctuations in the YR-22 contract, which is now trading at EUR 27.50/MWh, a marginal decrease of EUR 0.15/MWh since last week. The Q3-21 contract has fallen by EUR 0.85/MWh and now costs EUR 30.10/MWh.

Read Focus here.