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2025-09-18 19:45:01
[Drought Warning: Nordic Electricity Market Prices Surge] ⑴ On Thursday, Nordic electricity front-quarter contract prices rose 0.19% to €52.50 per megawatt-hour, hitting a nearly three-week high. This was primarily driven by two factors. ⑵ On the one hand, the strong German electricity market, with its year-to-date contract price rising 0.63% to €87.75 per megawatt-hour, boosted the Nordic market. ⑶ On the other hand, the Nordic region, which relies heavily on hydropower, is facing expectations of dry weather. Analysts point out that morning weather forecasts for the region, combined with higher German electricity contract prices, have pushed up electricity contract prices. ⑷ Forecasts for the coming week indicate that Nordic conditions will be colder, drier, and windier than usual. ⑸ In addition, available hydropower reserves in the Nordic region for 15 days have fallen to an above-normal level of 2.47 terawatt-hours, down from 3.42 terawatt-hours on Wednesday. ⑹ As a result, the Nordic next-day physically delivered power system price rose 2.45% to €36 per megawatt-hour. ⑺At the same time, the benchmark contract price in the European carbon market also rose by 1.38% to 78.04 euros per ton. ⑻Wholesale natural gas prices in the Netherlands and the UK rose slightly on Thursday as the market awaited new sanctions from Europe on Russia, while supply remained stable.
