The falling trend continued in the Nordic energy market last week, albeit not quite as strongly as the previous week. The continued negative mood was predominantly caused by some very wet weather forecasts and an improved hydro-balance, supported by a downtrend in the fuel markets and carbon emissions allowance market. When the market closed on Monday, the Q4-19 contract cost EUR 38.15/MWh, EUR 1.45/MWh less than last week. During the same period, the YR-20 contract fell by EUR 0.65/MWh and is now at EUR 35.90/MWh.
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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.