The price of the Nordic system contracts continued to fall last week, but, from Thursday, the market changed direction and prices were climbing again until Monday. The Q1-22 contract now costs EUR 66.70/MWh, EUR 4.20/MWh higher than one week ago, while the YR-22 contract has fallen to EUR 39.05/MWh, EUR 1.45/MWh lower than last week. The weather forecasts remain a crucial factor and the latest forecasts are slightly drier than before the weekend. High spot prices also continue to prop the market up.
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Winter has set in across the Nordic region, and spot prices have climbed sharply, as expected. On Monday, we reached by far the highest Nordic system price ever experienced, and the uptrend is also continuing in the forward markets.