Winter weather results in major price climbs

Ice-cold weather forecasts resulted in a clear increasing trend in the immediate contracts in the Nordic energy market last week.

Here and now

Fuel prices are falling across the globe, and last week the oil, gas and coal markets experienced a clear falling trend caused by a generally improved supply situation in the markets. In spite of these price falls, the immediate Nordic energy prices increased rather notably last week, as the weather situation in the region changed and became very cold and dry. The Q2-18 contract therefore increased by EUR 1.50//MWh, closing at EUR 26.15/MWh on Monday. The YR-19 contract, on the other hand, fell due to the falling fuel prices. It closed at EUR 25.80/MWh on Monday, EUR 0.55/MWh below last week’s level.

Read Focus here.