Following several weeks of climbing prices, the time had come for notable downwards adjustments in the Nordic forward market last week. Unclear weather forecasts put an end to the uptrend, as the market is no longer confident that we are heading for a warm, dry June. As a result, the Q3-21 contract has fallen by no less than EUR 2.67/MWh to EUR 39.28/MWh, while the YR-22 contract now costs EUR 31.32/MWh, a fall of EUR 2.63/MWh. The carbon and fuel markets, as well as the German energy market, are at around the same price levels as one week ago.
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Extremely wet weather forecasts affected both the spot prices and the forward prices in the Nordic energy market last week, when we experienced some sudden price falls.