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Nordic forward power prices increased on Wednesday, driven by rising European natural gas prices. A forecast for drier weather next week and reduced hydropower reserves also contributed to the upward price movement.
Nordic front-quarter baseload power rose €2.05 to €109.25/MWh and the front-year contract gained €1.20 to €67/MWh, buoyed by European gas and German power market gains. Wetter weather forecasts limited the upside.
Nordic forward power prices rose Tuesday, supported by gains in European gas and German power markets. However, forecasts for wetter weather capped the upward movement.
Nordic forward power prices increased to a more than two-week high on Thursday, influenced by gains in European gas and German power markets. These gains offset the downward pressure from forecasts of wetter weather in the region.
Nordic front-quarter baseload rose 1.8% to €112.25/MWh and front-year gained 1.49% to €68.25/MWh.
Nordic forward power prices rose on Monday, buoyed by gains in the European gas and German power markets, while drier weather view in the hydropower-reliant region also lent support.