There were further price climbs in the energy markets last week, both in the forward and spot markets. A major heatwave has set in across Europe, causing consumption to soar at a time when the supply situation is already under pressure. There is limited wind power production, with weather characterised by high pressure, which means that week 33 now looks set to become the most expensive week ever experienced in the Nordic spot market. The 2023 Nordic system contract has climbed by a further 5.5% during the last week.
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