Michael Kern, oil price.com, has a piece on Nordic power prices, here…
“While Germany and France are grappling with record electricity prices amid low gas supply from Russia and low French nuclear power output, the Nordic countries, which rely mostly on hydro and wind power, are enjoying a large drop in prices for the days ahead.
Lower demand due to summer holidays, water filling reservoirs, and windy weather these days led to an 80% slump in day-ahead power prices for the Nordic region on Friday. The average electricity prices across northern Europe for Saturday plunged to as low as $4.24 (4.17 euro) per megawatt-hour (MWh) on the Nord Pool exchange in Oslo, according to Bloomberg’s estimates.
To compare, the day-ahead prices in France were at $338 (333 euro) per MWh and at $150 (148 euro) per MWh in Germany.
The day-ahead prices in the Nordic countries hit the lowest since November 2020, on the back of a combination of several factors. These include increased wind power production, people leaving on summer holidays, and sufficient water for hydropower generation.”
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