The week started off in a bearish manner and the pressure is on the downside. V2-03 traded down to 280.25 NOK/MWh this morning, and players we spoke with said it seems to be only a question of time before the break comes. “It can’t hold forever,” a Norwegian trader said. A Swedish trader argued that the only factor of significance now is the very wet forecasts and delivery.
Fantastically wet weather outlooks for the next few days triggered the Monday gap. The system price was also a little weaker than expected and the Swedish trader said it will be interesting to see how stressed the producers will be when the high amounts of precipitation expectedly start to deliver.- A fair amount has been delivered already, but expectations are that a lot more will come.
Montag, 22.09.2003, 11:45 Uhr
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