Nordic electricity prices at record low

Focus week 14: The forward contracts in the Nordic energy market have fallen to their lowest ever levels as a result of the weather conditions and the coronavirus crisis.

Here and now

There were further price falls in the forward contracts in the Nordic energy market last week. Following a period of somewhat drier weather, the weather forecasts are now predicting high precipitation volumes once more. The forecasts predict that the first half of April will bring more than twice as much rain and snow as normal. The coronavirus crisis is also continuing to put pressure on the market. The Q3-20 contract closed at EUR 8.20/MWh on Monday, while the YR-21 contract has fallen to EUR 19.55/MWh. This is the lowest price level either contract has ever been traded at.

Read Focus here.