All hope of a weather trend change was crushed with the Monday forecasts, and the market consequently gapped up strongly. V1-03 was up more than 40 NOK, and the nearest week traded to 470.00 NOK/MWh. “It’s like a rocket,” an international trader argued, while another stated that greedy traders with bear leanings would be the first to go. A Norwegian trader characterized the fundamental situation as “too late.”
Race in spaceThe high pressure in today’s forecasts comprises a major weather change over the weekend, and players were rather surprised this morning that it had changed so drastically. The more than 40 NOK gap is considered a correct reaction to the weather change, however, and talk goes in the direction that there are no limits anymore. The all time high levels are
Montag, 2.12.2002, 12:35 Uhr
Sara Fagernes
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