Bullish cocktail triggers major price jump

Focus week 35: Dry weather forecasts, sky-high spot prices and continuously climbing fuel and carbon prices caused the upturn to return to the Nordic energy market last week.

Here and now

Following a rare period of price falls in the previous week, the uptrend returned to the Nordic energy market last week. The spot prices have climbed further during the last week, and the Nordic system price was no less than EUR 87.54/MWh on Monday. This is the highest system price observed in eight years, and there is plenty to indicate that we will continue experiencing extremely high levels during the coming period. This, together with dry weather and high fuel and carbon prices, led to sharply climbing prices in the Nordic forward market last week.

Read Focus here.