Winter cold leads to record-high spot prices

Focus week 51: Weather characterised by high pressure has settled across the Nordic region, and temperatures are expected to be very low over the coming weeks. On Tuesday, spot prices climbed to the highest level ever observed.

22 joulukuun, 2021

Here and now

Once again, there was no end in sight for the virtually neverending price climbs in the Nordic energy market last week. The upturn continued for the most frequently traded contracts as a result of a persistently bullish cocktail of cold weather forecasts, high spot prices, expensive prices on the continent and uncertainty surrounding European gas supplies. The Q1-22 and YR-22 contracts have now climbed by EUR 135.93/MWh and EUR 70.60/MWh respectively and, as the EPADs in the most densely populated areas have also climbed, we have therefore experienced a significant new price jump over the last week.

Read Focus here.

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