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Nordic Front-Year Falls to Track Losses in EU Power Market

POWER
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The Nordic front-year baseload power contract has fallen for the second consecutive session to reach its lowest since 16 May as price declines in the energy complex have placed downward pressure on surrounding European power markets. Limited nuclear maintenance is anticipated in 1Q25, with works picking up in 2Q25, latest Remit data show.

  • Nordic front-year Baseload power contract down 2.06% at €47.50/MWh.
  • TTF Gas Front-Year down 1.10% at €38.79/MWh.
  • German Front Year Base power contract down 1.56% at €99.27/MWh.
  • Finland’s 1.6GW Olkiluoto 3 will start planned maintenance on 1 March 2025 – 7 April 2025.
  • Sweden’s 1.4GW Oskarshamn 3 nuclear unit will shut down over 29 March 2025-17 April 2025.
  • Closer in, Nordic nuclear reactors were operating at 73% of capacity on Friday, up from 65% on Thursday, with 9 of 11 units online, according to Bloomberg.
  • Vattenfall AB’s Forsmark-2 unit in Sweden resumed output on Thursday. The utility’s 1.11GW Ringhals-3 reactor in Sweden is halted until 29 June.
  • The 890MW Olkiluoto-1 unit in Finland is still offline for maintenance until 28 May.
  • Demand could be high over the weekend as temperatures in the Nordics are far above the average, according to Weather Services International.
  • In Oslo, the mean temperature is forecast to rise as high as 20C on Saturday, 8 degrees above the 30-year norm.
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The Nordic front-year baseload power contract has fallen for the second consecutive session to reach its lowest since 16 May as price declines in the energy complex have placed downward pressure on surrounding European power markets. Limited nuclear maintenance is anticipated in 1Q25, with works picking up in 2Q25, latest Remit data show.

  • Nordic front-year Baseload power contract down 2.06% at €47.50/MWh.
  • TTF Gas Front-Year down 1.10% at €38.79/MWh.
  • German Front Year Base power contract down 1.56% at €99.27/MWh.
  • Finland’s 1.6GW Olkiluoto 3 will start planned maintenance on 1 March 2025 – 7 April 2025.
  • Sweden’s 1.4GW Oskarshamn 3 nuclear unit will shut down over 29 March 2025-17 April 2025.
  • Closer in, Nordic nuclear reactors were operating at 73% of capacity on Friday, up from 65% on Thursday, with 9 of 11 units online, according to Bloomberg.
  • Vattenfall AB’s Forsmark-2 unit in Sweden resumed output on Thursday. The utility’s 1.11GW Ringhals-3 reactor in Sweden is halted until 29 June.
  • The 890MW Olkiluoto-1 unit in Finland is still offline for maintenance until 28 May.
  • Demand could be high over the weekend as temperatures in the Nordics are far above the average, according to Weather Services International.
  • In Oslo, the mean temperature is forecast to rise as high as 20C on Saturday, 8 degrees above the 30-year norm.