Gas now costs 81 euros per megawatt hour. It has not been this high since December 2022, in the wake of the energy crisis that arose after Russia's initial war of aggression against Ukraine.
The higher gas price will push electricity prices up further, according to futures contracts traded. A large part of electricity production on the continent is generated with gas, and those prices then spread to Sweden.
"This year's prices are approaching the crisis year of 2022, when the average for the autumn months was 1.50 SEK per kilowatt hour," writes electricity trading company Bixia in a new forecast.
Oil prices also continue to climb, also as a result of the disputes between the US and Iran. A barrel of North Sea oil costs close to $103 at lunchtime.
