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Fortum’s energy market review: Wholesale electricity prices on the rise –
27.5.2009 11:00

Fortum publishes a topical energy market review two to four times a year. Topics covered in the review include for example fuel price development, electricity price development on the Nordic power market and factors influencing the development.

After a six-month decline, the electricity wholesale market prices have begun rising. On the financial market, the prices for electricity futures have increased since late February, but are still lower than in the beginning of 2008. On the physical spot market, prices in May have been higher compared to the same period in 2007-08. Price development is driven by global factors, oil and emission allowance price development, and the slightly weaker hydrological situation in the Nordic.

- The sentiment on the financial and equity markets is clearly more positive than few months ago. Conversely, it seems that the turnaround in the real economy is not yet at hand. The decrease in electricity consumption in the Nordic countries has continued and it is possible that there will be additional industrial production stops during the summer that will further decrease the industrial electricity consumption, comments Lotta Forssell, Vice President Communication from Fortum's Power Generation.

During January-April, electricity consumption in the Nordic countries decreased almost 5% compared to the previous year. The industry consumption decreased about 17 % during the first quarter of 2009 compared to the first quarter of 2008.

The large variations in wholesale prices have also had a significant impact on consumers.

- Consumers have become more active due to the large variations in wholesale prices. More customers have chosen the fixed price contract for one or two years, comments Timo Liiri from Fortum Markets.


Fortum Corporation
Corporate Communications

Further information:
Lotta Forssell, +358 50 45 36128, lotta.forssell@fortum.com
Timo Liiri, +358 50 45 36461, timo.liiri@fortum.com

Energy market review (pdf, 415 kb)