Major price climbs in forward market

Focus week 15: Extremely dry weather forecasts and a sudden price jump in the carbon emissions allowance market caused the Nordic energy market to experience major price climbs last week.

Here and now

For the second week in a row, the Nordic energy market experienced price climbs last week, and all contracts climbed during the week. There are prospects of high pressure and minor precipitation volumes at least until mid-week 16, and the hydro-balance deficit is growing again. Meanwhile, the carbon emissions allowance market has suddenly taken off again now that it looks like Brexit will be postponed once more. On Monday, the Q3-19 contract closed at EUR 42.00/MWh, an increase of EUR 4.90/MWh, while the YR-20 contract has now reached a price of EUR 37.60/MWh, EUR 2.85/MWh higher than last week.

Read Focus here.