Bloomberg said the power price in the Nordic region for next year fell to a record low as warm winter weather is forecast to cut heating demand and top up hydroelectric reservoirs with melting snow.

Data from Nasdaq OMX Group’s commodity unit in Oslo showed that power for delivery in the region from January through March, the benchmark contract, fell 1.9 percent to close at 36.20 euros a megawatt-hour December 12, the lowest level since it started trading in January 2012, Bloomberg said.