NewsSignals AI analysis·Reuters·Nov 5, 2026

Forward prices hit multi-week lows on wet weather forecast

Grade Bbearish AI signal

Nordic power prices fell to multi-week lows as declining European gas prices and a wetter weather forecast weighed on the hydropower-dependent market. The front-year Nordic contract dropped 0.2% to €72/MWh, its lowest level since October 15, while the front-quarter contract briefly reached its lowest level since October 23. Further rainfall and continued weakness in European gas prices could maintain downward pressure on Nordic power contracts.

Bullish strength: 30/100

The front-quarter Nordic power contract edged up 0.2% to €129/MWh.
Nordic water reserves remained 13.25 TWh below normal, potentially limiting hydropower availability.

Bearish strength: 70/100

The front-year Nordic power contract fell 0.2% to €72/MWh, its lowest level since October 15.
Falling European gas prices are reducing power-price expectations.
A wetter forecast could improve hydropower conditions and add downward pressure on prices.

This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.

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