Nordic power forward prices climb on gains in related markets, drier weather view
XLU•Nordic front-quarter power rose 1.8% to €112.25 per megawatt hour, while the front-year contract gained 1.49% to €68.25, supported by gains in gas and German power markets and a drier weather outlook.
1. Nordic prices rise
Nordic forward power prices rose on Monday, supported by gains in European gas and German power markets and a drier weather view in the hydropower-reliant region. The front-quarter baseload contract rose €1.98, or 1.8%, to €112.25 per megawatt hour at 1057 GMT; the front-year contract gained €1 to €68.25.
2. Weather and reserves
Analysts at Mind Energy said price increases were the most likely scenario as gas and German power prices rose and forecasts remained quite dry for October. Nordic water reserves available 15 days ahead were 15.41 terawatt hours below normal on Friday, compared with 9.86 terawatt hours below normal a week earlier.
3. Related markets
Germany’s 2026 baseload contract rose €1.80, or 1.4%, to €130.35 per megawatt hour, while front-year carbon allowances fell €0.39, or 0.45%, to €86.39 a ton. LSEG meteorologist Georg Muller said high pressure would bring warm, dry air to parts of Scandinavia, with Atlantic low-pressure influence expected to increase toward the following week.
