September 2026 market review
The system price averaged 52 EUR/MWh, up 9% month on month, as nuclear maintenance and a dry spell in Norway tightened supply.
Sample commentary: the figures and events in this piece are invented to demonstrate the format.
Headline
The demand-weighted system price averaged 52 EUR/MWh in September, up 9% on August. Volatility rose in the second half of the month as autumn maintenance began.
Supply
- Nuclear: two Swedish units were offline for refuelling for 11 days.
- Hydro: Southern Norwegian inflows were 18% below normal, pushing NO1 and NO2 water values up.
- Wind: output was close to normal overall, but concentrated in a few storm days.
Prices by region
Southern Norway and Sweden converged with continental prices for much of the month, while the northern zones stayed decoupled behind internal transmission constraints.
Looking ahead
Forward markets price Q4 about 15% above September. Reservoir levels and the restart schedule of Nordic nuclear capacity are the two main swing factors.