New price climbs in spot market

Focus week 33: The uptrend in the short-term contracts in the forward market continued last week, with spot prices also reaching new record-high levels.

Here and now

Dry weather and a major hydro-balance deficit were once again the factors that set the tone in the Nordic energy market. Spot prices climbed to the highest levels observed in years, and prices also continued to climb in the short-term contracts in the forward market. However, the long-term contracts in the market have calmed down following a couple of days of price falls in the carbon and fuel markets. When the market closed on Monday, the Q4-21 contract had climbed by EUR 4.25/MWh to EUR 63.75/MWh, while the YR-22 contract has experienced a marginal increase of EUR 0.60/MWh, now costing EUR 39.10/MWh.

Read Focus here.