Gas market is launchpad for major price fall

Focus week 34: Downtrend across all markets last week. A nervous gas market continues to set the tone for electricity prices across Europe.

Here and now

Following several weeks of price jumps in the Nordic energy market, the forward market changed direction last week. The price falls were concentrated on two days, Wednesday and Thursday, when the market fell so sharply that not even a comeback on Friday and Monday was enough to regain all of the losses. The downtrend came as the result of a sudden fall in the gas market, which also affected the carbon and electricity markets. High spot prices and the news of further postponements for the new Finnish nuclear reactor did, however, prevent the price falls from becoming any greater.

Read Focus here.