Scandinavian electricity futures forecast high prices both for Christmas and beyond. Price forecasts in the electricity exchange show a downward curve only in March. Therefore, electricity consumers should expect several months when electricity will cost more.
If back in October it was possible to predict that the electricity exchange price in winter would be 10-11 cents per kilowatt hour on average, then in recent weeks the average price has risen to 14 cents per kilowatt hour (or 140 euros per megawatt hour).
December futures in Scandinavia are more than a third more expensive than real prices in November. According to the general director of “Baltic Energy Partners” Marko Alliksons, local electricity prices have increased due to the cold weather, as well as the unfavorable forecasts of forecasters.
“Weather with low temperatures and no wind means that prices will rise, as both Finland and the Baltics without wind are very difficult to fully meet their needs. The cold weather has quickly reduced water reserves in Scandinavia, which are already lower than a year ago at this time,” Allickson points out.
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