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Live Updates  >  Live Update Details

2025-07-31 20:53:57

Nordic Power Market Tug of War: Wet Weather and Low Water Levels Clash, Stable First-Quarter Prices] ⑴ Nordic first-quarter electricity prices remained stable on Thursday, as relatively low water levels in hydropower generating areas offset downward pressure from recent wet weather forecasts. ⑵ Nordic first-quarter contract prices remained unchanged at €49.7 per megawatt-hour. ⑶ Nordic year-on-year contracts rose €0.1 to €39.65 per megawatt-hour, reaching their highest level since June 17. ⑷ Lukas Sigg, CEO of Nordic Energy Consulting, stated that despite forecasts for more rain, the hydropower balance remains significantly in deficit. ⑸ Lower wind power generation this week may also have provided some short-term support to the market. ⑹ The rise in year-on-year contract prices is likely driven by risk appetite, as natural gas and German electricity prices remain above their levels earlier this summer. ⑺ LSEG meteorologist Georg Müller predicts continued cloudy and wet weather in Scandinavia over the weekend and early next week, with above-normal rainfall. ⑻ The price of next-day physical electricity in Northern Europe fell by €1.61 to €44.29 per megawatt-hour. ⑼ The benchmark European carbon market contract fell by €0.18 to €72.68 per ton. ⑽ Wholesale natural gas prices in the Netherlands and the UK fell due to profit-taking and expectations of increased wind power generation. ⑾ German electricity prices rose by €0.35 to €88.9 per megawatt-hour this year.

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