Once more there were clear price falls across the Nordic forward market last week. While spot prices currently remain very stable, both the short-term and the long-term contracts in the forward market are experiencing price falls. The Q4-20 contract closed at EUR 17.90/MWh on Monday, a fall of EUR 1.85/MWh for the week. The YR-21 contract has fallen by EUR 0.75/MWh to EUR 20.80/MWh. The downtrend can be attributed predominantly to the falling prices in the carbon market, which has fallen by more than 10% in the last week, but the wet and mild weather forecasts for the remainder of July have also supported the price falls.
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The price falls in the Nordic system futures continued last week, before drier and colder weather forecasts allowed the market to recover the losses on Monday.