(Bloomberg) -- Finland’s Energy Authority will investigate whether there were violations of electricity market rules during the first week of January when power prices soared amid a cold weather snap.

The authority will probe in more detail the purchase and sale offers made in the wholesale electricity market, as well as the supply of power into the market, it said in a statement on Friday.

Finland’s power prices hit a record in the first week of the year, prompting grid manager Fingrid Oyj to raise its preparedness as cold weather sparked exceptionally high demand for electricity. 

Read More: Finnish Power Prices Jump as Grid Ups Readiness on Shortage Risk

The situation in the power market was “sensitive” due to high demand and scarcity of supply, making the cost of electricity vulnerable to even small changes in the bid and offer prices made in the exchange, the authority said.

The investigation is part of the normal market surveillance and the authority said that no party is currently under suspicion of violating any laws.

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