Massive price falls in Nordic region due to mild, wet weather

Focus week 2: The so far unusually mild and wet winter in the Nordic region has resulted in falling electricity prices. We have to go back nearly two years to find prices this low.

Here and now

Following a relatively long period of fairly stable prices in the Nordic energy market, prices started experiencing serious movements as we entered the New Year. Mild weather and wet precipitation forecasts have resulted in price falls of more than 20% for the short-term contracts in the market. In just one week, the Q2-20 contract has fallen by EUR 7/MWh to EUR 25.40/MWh, while the YR-21 contract closed at EUR 31.60/MWh on Monday, EUR 1.55/MWh lower than last week. Turnover in the market has been relatively large at the start of the year.

Read Focus here.