Major price climbs all week

Focus week 46: The second half of November looks set to be dry and cold and, as carbon has also climbed to new record highs, the foundations were laid for major price jumps in the Nordic energy market last week.

Here and now

The price of the Nordic system contracts increased on all five days of trading last week. The Q1-22 contract has climbed by EUR 14.10/MWh to EUR 72.10/MWh, while the YR-22 contract is now up to EUR 42.80/MWh, EUR 7.39/MWh higher than one week ago. The weather forecasts now agree that we are heading towards a shift to cold, dry weather for the second half of November, and the hydro-balance deficit looks set to increase further over the coming weeks. At the same time, the carbon market is once again experiencing price climbs, while uncertainty remains high in the gas market.

Read Focus here.