The wet summer weather is continuing, and the rain has still been falling across most of the Nordic region for the entire week. The influx to the water reservoirs has caused both the spot market and the immediate forward prices to experience further price falls. The Q3-19 contract is now at its lowest level so far this year, with a closing price of EUR 31.55/MWh on Monday, EUR 1.60/MWh lower than last week. The YR-20 contract has fallen together with the coal and gas markets. It now costs EUR 34.70/MWh, a fall of EUR 0.55/MWh compared to last week’s level.
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The price falls continue in the European coal and gas markets. Last week, gas prices fell to the lowest level observed in more than two years, and we are extremely close to a similar situation in the coal market.