The Nordic energy market experienced a falling trend at the end of week 1 and start of week 2. This is partly due to a negative mood in the financial markets, where disappointing key ratios and falls in the stock markets have influenced developments. At the same time, the carbon emissions allowance market has also experienced some price falls, and the market is now around 10% lower than it was at the New Year. This has pulled down electricity prices. The Q2-19 contract closed at EUR 47.10/MWh on Monday, while the YR-20 contract now costs EUR 37.15/MWh.
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January 24, 2019. The Nordic system price for Thursday was 68.65 EUR/MWh, the highest level in three years. Ice cold weather and low wind power production caused the high prices.
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The temperatures have dropped below the norm in the Nordic region, and the prospects of the cold continuing for the remainder of the month caused the electricity prices to rise last week. All of Europe is affected by the cold weather.