In a thin Wednesday market the Winter1 contract tested the symbolic 400 NOK/MWh level before settling in the same range as yesterday. Most of the contracts traded down early in the morning before recovering towards noon. Fundamentally the situation remains as strained as it has ever been, but the exit door may also be brutally narrow if the trend turns, a Norwegian producer warned.
“We are now reaching record levels, and the fundamental situation doesn’t support a correction. But a correction may come, and when it comes it can be brutal. Twice as brutal as the one we had earlier this autumn when the Winter1 contract fell some 50 NOK/MWh in a few days. This time it may fall 100 NOK/MWh. But for this to happen we need warmer temperatures and more rain”, th
Mittwoch, 27.11.2002, 12:20 Uhr
Olav Vilnes
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