Extended gains in energy complex spur Nordic power market

Focus week 36: Rally to new highs in gas, carbon and German power at beginning of this week add to pressure from high spot power prices, dry conditions.

Here and now

In a similar fashion to calendar week 34, the price development followed through once more last week to gain new highs. This impulse is carried into this week as well. The Nordic system price for this Monday was set at 91,91 EUR/MWh, the highest in more than nine years. Driving factors behind this move remained rather unchanged, i.e. forecast precipitation levels are seen to extend the current deficit in the hydrological balance. In addition, gas and emissions markets with surging prices lend further support to the overall European power complex.

Read Focus here.