Major new price jump due to cold autumn weather

Focus week 47: Sharp price climbs continued for Nordic forward prices this week, with the colder weather helping the spot prices to soar. Nevertheless, the spread in relation to Germany continues to grow.

Here and now

A so far mild autumn has now been replaced by freezing temperatures in large parts of the Nordic region and the weather forecasts indicate that the temperatures will likely remain below normal for the time of year for the next two weeks. This has caused rising forward prices in the Nordic region, where the Q1-22 and YR-22 contracts have now climbed to EUR 81.90/MWh and EUR 47.25/MWh respectively. Despite the major price jump, the price climbs have actually been even higher in Germany, which means that the area prices are also climbing in large parts of the Nordic region and that the overall electricity prices have climbed substantially.

Read Focus here.