Record Nordic Power Prompts Factories to Halt: Energy Markets
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Electricity prices in the Nordic region are trading at an all-time high, forcing manufacturers to halt production lines as nations turn to energy imports from Germany to meet demand.
Day-ahead power averaged 81.67 euros ($105.57) a megawatt-hour last month on Nord Pool Spot AS, the highest level since Sweden, Norway, Denmark and Finland started the joint market more than 10 years ago. That compares with 55.55 euros for German power on the Epex Spot SE exchange. The difference between the two markets hasn’t been so wide since February 2010, according to data compiled by Bloomberg.