Major hydro-balance deficit returns

Focus week 49: Several weeks of cold weather, combined with high levels of electricity exports to other parts of Europe, have caused the Nordic hydro-balance deficit to grow significantly again. This has caused prices to soar.

8 joulukuun, 2021

Here and now

The weather forecasts for the rest of December moved towards milder weather last week. Following several cold weeks, there are now prospects of temperatures close to or above the seasonal norm from around the start of next week. At the same time, wind power production and precipitation volumes also look set to climb. The forecasts triggered a clear price fall in the short-term contracts in the forward market, while the year contracts experienced further price climbs together with gas and carbon. The Q1-22 contract fell to EUR 86.68/MWh during the course of the week, while the YR-22 contract has climbed to a new record-high level of EUR 53.60/MWh.

Read Focus here.

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