Focus week 17: Low temperatures and low levels of precipitation, combined with high levels of exports to other countries, mean that the water reservoir levels in Norway are currently unusually low.
Last week, spot prices in the Nordic region fell slightly again, in no small part as a result of days with high levels of wind power production. However, the pressure is mounting in the spot market in line with continued cold weather in the Nordic region, the delayed snow-melting in the Nordic mountains and increasing prices in the fuel market due to the continued fears of further escalation of the conflict with Russia. The average Nordic system price for week 16 was EUR 111.68/MWh, approximately 25% lower than the previous week, with particularly low prices across the weekend.
Read Focus here.