The Thursday morning market continued down, seeing high amounts of precipitation delivered the last 24 hours and more to come. V2-03 fell through 300 NOK/MWh, and a Norwegian trader declared that “players have certainly put on their bear costumes.” A Swedish trader maintained that the fundamental value of V2-03 has not fallen 50 NOK, but saw 280 NOK/MWh as the next level.
- Prices are falling a lot, but the surrounding world has not changed this much in just a few days. So, fundamentally the autumn contract is not worth 50 NOK less today than on Tuesday obviously, but delta options and stop losses have contributed greatly to the size of the fall. One must be careful in estimating what a “correct” price is here, but another 15 NOK down from this level
Donnerstag, 14.08.2003, 11:51 Uhr
© 2024 Energie & Management GmbH
