Fish seen around lake mean freezing weather (4,5)

I believe the answer is:

cold spell

'freezing weather' is the definition.

'fish seen around lake mean' is the wordplay.
'fish' becomes 'cod' (cod is a kind of fish).
'seen around' is an insertion indicator.
'lake' becomes 'l'.
'mean' becomes 'spell' (eg in 'this spells disaster').
'cod' enclosing 'l' is 'cold'.
'cold'+'spell'='COLD SPELL'

I've seen this clue in The Guardian.

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