Cold weather returns in the Nordic region

Focus week 48: Following a mild period, wintry weather is now on its way back to the Nordic region. From the end of this week, temperatures will drop below the norm and this is resulting in price climbs in the energy market.

Here and now

The Nordic energy market completely changed direction again last week compared to the developments in the previous week. Prices climbed for four days in a row during week 47 and, even though they fell back slightly on Monday, the forward market is trading at a much higher level than it was at the same time last week. The weather forecasts predict cold weather from the end of this week, and we may see temperatures 4-5 degrees below the seasonal norm at the start of December. The Q1-20 contract has therefore climbed by EUR 1.35/MWh to EUR 43.30/MWh, while the YR-20 contract has climbed by EUR 0.72/MWh and now costs EUR 37.50/MWh.

Read Focus here.