Focus week 41: For the first time in around five years, the price of one tonne of coal exceeded USD 100 last week. This caused further increases in the Nordic energy market.
Following a prolonged period of major daily price fluctuations, the Nordic energy market quietened down slightly last week, with smaller fluctuations. Nevertheless, the week did end overall with climbing prices both in short-term and long-term contracts thanks to the drier weather forecasts and increasing coal and carbon emission allowance prices. The Q1-18 contract climbed by EUR 0.45/MWh to EUR 49.00/MWh, while the YR-19 contract closed at EUR 39.55/MWh on Monday, EUR 0.27/MWh higher than last week. The liquidity in the market remains lower than normal.
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The Nordic energy market continues to experience falling forward prices. Very wet summer weather and price falls in the coal and gas markets are the crucial price drivers.