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Nordic power prices could rise, while Vattenfall plans early closure of nuclear reactors


Reuters reports that plans to shut two Swedish nuclear reactors, impose a levy on coal power in Germany and improve links to export markets could lift Nordic power prices after years of declines, providing some relief to the region’s utilities.

“In the power market with low prices and large uncertainty there are now some factors that are pointing in the direction of some price recovery,” Oslo-based consultancy THEMA’s senior consultant Marius Rennesund told the news agency.

It said Nordic power prices could rise by around 4 euros per megawatt-hour (MWh) by the end of the decade.

Sweden’s Vattenfall, the Nordic region’s biggest utility, recently said it plans to cut jobs and close its two oldest nuclear reactors — Ringhals-1 and Ringhals-2 — earlier than planned, due to declining probability.

Vattenfall’s head of business area generation Torbjörn Wahlborg said, “Unfortunately, we see market conditions with continued low electricity prices in the coming years. At the same time, we are facing increasing production costs.”

Last Updated (Monday, 04 May 2015 11:05)

 


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