Substantial daily price fluctuations continue

Focus week 12: The war in Ukraine is continuing to cause enormous uncertainty across the European energy markets. Last week, electricity prices in the Nordic region increased again, along with gas and carbon.

Here and now

Again last week the Nordic energy market did not calm down, and substantial daily price fluctuations continue to occur. Prices climbed again last week, not least because the weather forecasts are now indicating colder weather from next week. This will postpone the melting of snow in the Nordic region, thereby putting the hydrological situation under additional pressure. As a result, prices climbed across the forward market, and the Q2-22 contract has climbed by EUR 2.75/MWh to EUR 92.25/MWh. The 2023 year contract now costs EUR 50.25/MWh, EUR 2.25./MWh higher than a week ago.

Read Focus here.