Highest gas prices in 2020

Focus week 42: Last week, the day price for gas climbed to the highest level experienced so far this year. The causes include strikes in the Norwegian oil and gas industry.

Here and now

The price climbs in the Nordic energy market continued at the start of last week, but the market fell back significantly on Friday and Monday this week. The hydro-balance surplus has decreased significantly, and the Nordic system price was EUR 22.49/MWh on Monday, the highest level observed in nearly one month. Falling carbon prices and price falls in the German energy market did, however, result in falls that ended up completely neutralising the increases from earlier in the week. When the market closed on Monday, the Nordic Q1-21 and YR-21 contracts cost EUR 29.60/MWh and EUR 24.75/MWh respectively.

Read Focus here.