Nordic power forward prices fall after recent gains, tracking weaker related markets
UNG•Nordic front-quarter baseload power fell €3.38, or 3.03%, to €108.25 per megawatt hour, while the front-year contract lost €1.25, or 1.84%, to €66.85. Declines in European gas and German power markets added downward pressure.
1. Nordic contracts decline
Nordic forward power prices slipped Tuesday as traders locked in profits after the previous session’s rally. The front-quarter baseload contract fell €3.38, or 3.03%, to €108.25 per megawatt hour at 1146 GMT, and the front-year contract lost €1.25, or 1.84%, to €66.85.
2. Related markets weaken
Dutch and British gas prices fell on weak demand and hopes of a US-Iran deal. Germany’s 2026 baseload contract dropped €2.52, or 1.96%, to €126 per megawatt hour, while front-year carbon allowances fell €0.73, or 0.85%, to €85.44 a ton.
3. Weather and water reserves
A meteorologist said high pressure over the continent would weaken, allowing unsettled and moderately mild weather in Northern Europe, with partly above-normal rain in western Scandinavia and mostly slightly above-normal temperatures. Nordic water reserves available 15 days ahead were 12.49 terawatt hours below normal, compared with 14.69 terawatt hours below normal Monday.
