The Nordic energy market moved largely sideways last week. Week 45 looks set to be very dry, but last week the forecasts started to indicate wetter weather from the beginning of week 46. As the temperatures continue to look set to remain above the seasonal norm, the market reacted by trading down towards the end of the week, supported by falling fuel prices. The Q1-19 contract ended the week with a minor increase of EUR 0.25/MWh and closed at EUR 46.45/MWh on Monday. The YR-19 contract now costs EUR 37.05/MWh, which is EUR 0.23/MWh less than last week.
Read Focus here.
January 22, 2019. Mikkel Hauge Jensen is Senior Energy Risk Advisor for our customers at Energi Danmark. To Mikkel dedication and the profound interest in the electricity market are the driving forces.
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.