Following recent price climbs, the Nordic energy market has changed direction again and we are now seeing significant price falls at the start of August. A strengthened hydro-balance is having an impact, in particular on the short-term contracts in the forward market, where the price falls are largest. Following an extremely dry July, the start of August is showing major adjustments to the forecasts for precipitation and overall water reservoir levels. When the market closed on Monday, the Q4-19 contract cost EUR 39.60/MWh, which is more than EUR 3/MWh less than last week. The YR-20 contract has fallen by approximately EUR 1.5/MWh to EUR 36.28/MWh.
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August 16, 2019. Production is rising on the coal market, which is also heavily affected by the US-China trade war. The already very low prices could be on the verge of falling further.
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The latest period has been characterised by a major price fall in the fuel markets. Last week, both oil and gas prices fell to their lowest price levels for several months.