Enormous price climbs following outbreak of war

Focus week 9: The Russian invasion of Ukraine resulted in enormous price jumps across the markets during the past week. The colder and drier weather forecasts across the Nordic region have also contributed to the price climbs.

2 maaliskuun, 2022

Here and now

Even though market players attempted, to some extent, to price in the fears of war, the Russian invasion of Ukraine had a substantial impact across the markets last week. The fuel markets experienced enormous price climbs and, in line with the ripple effects spreading, Nordic energy prices also soared. The upside was further boosted by drier and colder weather forecasts in the Nordic region. When the markets closed on Monday afternoon, the Q2-22 contract had climbed by 60% during the course of the week. It now costs EUR 74.00/MWh. During the same period, the 2023 contract climbed by around 25% to EUR 47.40/MWh, and the EPADs have also been climbing in several price areas.

Read Focus here.

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