All eyes on the gas market again

Focus week 45: The uptrend in the Nordic energy market returned last week, when both spot and forward prices climbed, following the significant price falls in the previous week.

Here and now

The enormous price falls we reported in last week’s Focus have not lasted. The market has once again changed direction over the last week, and prices have climbed in both the spot and forward markets. Low wind power production and a continued hydrological deficit have caused spot prices to rise, while the forward market remains influenced by developments on the continent, primarily in the gas market. During the course of the week, the Q1-22 contract climbed by EUR 8.60/MWh to EUR 58.00/MWh, while the YR-22 contract climbed by EUR 4.41/MWh to EUR 35.41/MWh.

Read Focus here.