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2025-07-29 20:25:42
Nordic Electricity Prices Soar: Gas and Hydropower Imbalances Resonate, Approaching a Six-Month High! ⑴ On July 29th, Nordic front-end quarterly electricity prices climbed to a more than six-month high, primarily supported by rising European natural gas and German power markets and a weak hydropower balance. ⑵ At 7:36 PM Beijing Time, the Nordic front-end quarterly contract price rose by €0.97 to €49.45 per MWh, reaching a new high since early December 2024. ⑶ The Nordic front-end annual contract price rose by €0.55 to €39.25 per MWh. ⑷ Lukas Sigg, CEO of Nordic Energy Consulting, stated that the market rise was primarily driven by stronger German electricity and natural gas prices. While Nordic hydropower conditions have improved in the short term, the long-term outlook still suggests a very dry climate. ⑸ US President Trump's remarks regarding a shortened deadline for Russia to reach a ceasefire agreement led to higher wholesale natural gas prices in the Netherlands and the UK. ⑹ Germany's next-year electricity price rose by €1.81 to €87.3 per MWh. 7. Available hydropower reserves in Northern Europe are estimated to be 1.56 TWh above normal as of 15 days from now, compared to 0.53 TWh below normal on Monday. 8. The Nordic system price for physical delivery the next day rose by €12.3 to €30.99 per MWh. 9. The benchmark European carbon market contract fell by €1.45 to €72.1 per ton.
