Nordic forward power prices fell on Thursday after hitting their highest levels
since January 2023 a day earlier, pressured by weaker European gas and
wetter-than-normal weather forecasts for the hydro-dependent region. LSEG power
analyst Ole Djupskaas said the largely unchanged weather outlook led to lower
gas prices, which pushed Nordic power contracts slightly lower today. Benchmark
Dutch TTF and UK NBP wholesale gas prices dropped after rising to their highest
since January 2023. A surge in German wind generation also weighed on German
day-ahead power. A 15-day outlook shows Nordic available water resources 13.47
TWh below normal, versus 13.43 TWh below normal in Wednesday’s forecast.