From record-breaking heat on the continent to a more relieved Nordic hydro balance, this edition looks at what's driving summer power prices in the time ahead.

The sensitivity in the market has not been this high for a very long time, which leaves the market exposed to upside movements.

The spring that failed to ease the deficit, the resource situation in Southern Norway, and the slow repricing of the 2027 contract.

Global energy shocks and weak hydrology keep Nordic power prices structurally high.

Geopolitical tensions are widening the range of outcomes in the power market

From a bearish to a bullish market

Ice cold temperatures, stratospheric warming and hydrological balance

Nordic future prices 2025 and the development of the polar vortex.

Early signs point to a cold winter as the Stratospheric Polar

Vortex shows signs of weakening.

This month’s newsletter explores the impact of storm “Amy” on electricity prices. We also take a closer look at the hydrological balance and challenge the “Norway price” debate by shedding light on the real drivers behind market prices.