Nordic Power Prices Could Soar This Winter as Hydropower Reserves Plunge

Low water levels in hydropower reservoirs and soaring natural gas prices are putting upward pressure on power prices in the Nordic countries as winter approaches, Denmark-based energy trader Mind Energy says. The surge in gas prices and potentially reduced hydropower generation in southern Norway and Sweden could lead to price spikes this winter, especially if there are prolonged periods of low wind speeds, the analysts said.

” The price spikes in European natural gas prices in October and the “severe hydrological pressure on the Nordics ahead of winter” could send electricity prices soaring in the coming months, according to the analysts.