POWER
- Stocks dropped by 3.2 percentage points on the week in week 2 of 2025 compared to a 2.1-point fall at the end of week 1.
- Stocks narrowed their surplus on the year just slightly to 18.4 points compared to 18.5 points the week prior.
- Precipitation in the Nordic region dropped on the week to a total of 12.91mm from 13.17mm in week 1 and lower than the seasonal average of around 20.3mm.
- And higher demand on the week continued to increase downward pressure on stocks, with Norwegian demand averaging about 21.02GW in week 2 from 20.30GW in week 1. Swedish demand averaged around 19.85GW in week 2 from 18.58GW the week prior.
- Nuclear generation in the region was relatively stable on the week, with Swedish output at around 5.83GW from 5.8GW the week prior and Finnish generation at 4.18GW from 3.98GW.
- Hydro levels narrowed to an 8-point surplus to the 19-year average from an 8.8-point surplus in week 1.
- Swedish reserves moved downward to be at 73.7% capacity from 76.8% capacity in week 1, with Norwegian reserves dropping to 73.5% capacity from 76.8% in week 1.
- And Finnish hydro stocks followed the same trend, falling to 55% of capacity from 57.6% in week 1 and still much lower than the same week last year at 59.3%.
- Looking ahead, the latest ECMWF suggests Norway’s and Sweden’s hydrological balance to end at +9.02TWh and +5.45TWh, respectively, on 29 January compared to +8.61TWh and +5.32TWh in the previous forecasts for the same day.
- Rainfall in the Nordics over 15-29 Jan will see below-normal precipitation, with most days expected to record around 0mm of rainfall - limiting flows in the reservoirs.
And average temperatures in the region will flip below the seasonal average of around -2.4C on 23 January to be at -4.9C and are seen dropping to as low as -5.45C the next day. Average temps will remain below the 30-year norm until 30 January.
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