Once again, there was no end in sight for the price climbs in the Nordic forward market last week. A combination of new record-high levels in the fuel markets and in Germany, as well as low hydro-resources, is having an impact on the market, and the risk of extremely low water reservoir levels during autumn and winter has now increased. In the spot market, a relatively low Nordic system price was observed for the second week in a row. The average Nordic system price for the week was EUR 72.89/MWh, slightly higher than in week 27 but much lower than the levels experienced in June.
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