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NORDIC POWER-Forward prices set to snap 4-day losing streak on drier weather view

reuters.com · 06/09/2022 08:08
NORDIC POWER-Forward prices set to snap 4-day losing streak on drier weather view

- Nordic forward power prices rose on Thursday and were on course to snap a four-session losing streak, supported by forecasts for slightly drier weather in the hydropower-dependent region and gains in the German market.


  • Nordic front-quarter baseload power contract ENOFBLQc1 was up 2.1 euros at 93.85 euros per megawatt hour (MWh) as of 11:56 GMT.

  • The Nordic front-year contract ENOFBLYc1 gained 1.05 euro to 81.60 euros/MWh.

  • "Today's weather forecasts are drier than yesterday. Additionally, the German market is up," said Refinitiv analyst Oletom Djupskaas.

  • From the middle of next week the weather is expected to be slightly drier than on Wednesday, according to the Swedish Meteorological and Hydrological Institute (SMHI).

  • The German wholesale spot power price climbed as wind supply is expected to fall throughout the region. EL/DE

  • Nordic water reserves available 15 days ahead PCAEC00 were seen at 5.51 terawatt hours (TWh) below normal, compared with 5.79 terawatt hours (TWh) below normal on Wednesday.

  • Carbon front-year allowances CFI2Zc1 firmed 0.74 euro to 80.55 euros a tonne.

  • The Nordic power price for next-day physical delivery FXSYSAL=NPX, or system price, fell 7.83 euros to 140.75 euros/MWh at an auction on the Nord Pool exchange.


(Reporting by Rahul Paswan in Bengaluru;
Editing by Vinay Dwivedi)

((RahulKumar.Paswan@thomsonreuters.com; If within U.S. +1 646 223 8780;;))