Cold weather continues and causes prices to climb

Focus week 45: The cold has taken hold in the Nordic region. The latest forecasts predict temperatures below normal for another two weeks, and the high-pressure weather means that the hydro-balance is being weakened.

Here and now

Last week we were able to report how the Nordic weather forecasts were pointing in different directions. It would seem that it was the cold and dry forecasts that were correct, as these are now dominating completely. It is not just the Nordic region, but most of northern and western Europe where the cold is about to take hold, and this has also had an impact on fuel prices. The foundations were therefore laid for steeply climbing Nordic electricity prices last week. The Q1-20 contract has climbed by EUR 2.85/MWh to EUR 44.50/MWh, while the YR-20 contract is at EUR 37.43/MWh, EUR 1.96/MWh more than last week.

Read Focus here.