Following the major price jump the previous week there were slightly falling electricity prices in the Nordic region last week, although the level does of course remain extremely high compared to the levels we have previously experienced at this time of year. The average Nordic system price for the week was EUR 130.37/MWh, a fall of 18% compared to the price level the previous week. This week looks set to offer somewhat lower prices, as wind power production looks set to increase, while the snow-melting also looks set to intensify. The forward market also experienced falling prices last week.
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Both spot prices and forward prices fell in the Nordic region last week, as there was a particular focus on milder and wetter weather forecasts for the coming weeks. Gas prices also fell despite the uncertainty.