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2025-08-01 20:02:28
Why are electricity prices in Northern Europe continuing to fall amid heavy rain and strong winds? ⑴ Nordic forward electricity prices fell on Friday, with both major contracts facing weekly declines due to forecasts of wet and windy weather. ⑵ LSEG power analysts stated that the forecast suggests even wetter and windier weather than yesterday. ⑶ The first-quarter Nordic electricity contract fell to €48.75/MWh, a 1.5% decrease for the week. ⑷ The previous-year contract fell to €39.6/MWh, ending a two-week winning streak. ⑸ Data shows that available hydropower reserves in Northern Europe for the next 15 days are 4.41 TWh above normal, compared to 2.08 TWh on Thursday. ⑹ Abundant hydropower resources, combined with rainy and windy weather brought by a low pressure system, are exerting downward pressure on electricity prices in Northern Europe. ⑺ LSEG meteorologists predict that low pressure activity will persist over the weekend and early next week, bringing above-normal rainfall. ⑻ It is expected that the weather will turn dry in the second half of next week and the week after that, with rainfall close to normal levels.
