Climbing spot prices in Nordic region

Focus week 21: Cold spring weather and a weakened hydro-balance have resulted in sudden climbs in the Nordic spot prices. The average Nordic system price last week was the highest since the start of March.

Here and now

The falling hydro-balance surplus has resulted in climbing spot prices, but there were no notable fluctuations in the forward market. The weather forecasts have not changed much during the week. Temperatures below normal are still expected for the second half of May. On Monday, the Q3-20 contract closed at EUR 10.01/MWh, EUR 0.21/MWh higher than last week. The more distant contracts in the market have fallen, although only marginally. The YR-21 contract has fallen by EUR 0.80/MWh and is now trading at a price of EUR 21.90/MWh.

Read Focus here.