Fortum said that the Nordic wholesale prices have increased compared to 2007, but not as much as expected. The Finnish company said that the lower then expected prices are mainly due to the strong hydrological situation and warm weather.
There is reportedly a surplus of 11TWh in Nordic water reservoirs compared to the long-term average and in addition there is estimated to be more snow than average in Norway.
Fortum also noted that the price for emission allowances for 2008 was around E21 per ton of CO2 in March 2008. The review found that wholesale prices in Continental Europe have increased more, compared to the Nordic region as a result of increased CO2, coal and oil prices. Higher continental prices have resulted in increased exports from the Nordic region to Germany.
