Among the findings in its latest electricity market review, Nordic energy company Fortum has revealed that problems with nuclear and hydro power generation have led to uncertainty in the market.
Fortum’s current review, which looks at topics such as price development on the Nordic market and factors influencing such trends, revealed that, during the spring, prices in the Nordic electricity market decreased, only to increase during the summer and autumn. Oil prices reached historically high prices during the summer, but have decreased in the last few weeks.
The review also explains that problems at Swedish nuclear power plants have created uncertainty on the market, while hydro power has been affected as there is a significant deficit in the Nordic water reservoirs due to low precipitation.
Looking forward, Fortum said that current price levels on the electricity derivatives market point to rising spot prices for the coming winter.