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Deep dive series: Nordic Hydro

Tuesday, 05 March 2019

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This article explores recent market developments of Nordic Hydro and is the first article in the upcoming series which takes a closer look at Nordic Hydro Guarantees of Origin.

Nordic Hydro represents the most traded GO product and is the benchmark in the market for European GOs. Other GO products trade typically at a premium to Nordic Hydro. Norway and Sweden issued 176 TWh of GOs from hydropower production in 2018, corresponding to a GO market share of 27%. The majority of the issued Nordic Hydro GOs were exported to countries like Germany, Belgium, and the Netherlands.

Leading up to 2017, the price for Nordic Hydro GOs traded at depressed wholesale levels, typically in the range between 10 and 30 Eurocents/MWh. Since November 2017, prices for Nordic Hydro began to increase rapidly from 30 Eurocent/MWh to reach ...

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