Growing hydrological pressure in Nordic region

Focus week 32: Dry weather forecasts are causing the Nordic hydro-balance deficit to grow further, and Norway is now considering limiting exports abroad.

Here and now

Since our last edition three weeks ago, the prices in the forward market have simply continued to climb. The hydro- balance deficit has grown, and there are prospects of very low hydrological resources in the Nordic region this coming winter, while the market is already concerned with other matters. Gas supplies from Russia to Europe have decreased even further as the summer has progressed. These circumstances have also led to further price climbs in the forward market, and July also offered the highest spot prices ever experienced in Denmark.

Read Focus here.