The week started off bearish, seeing a change in the weather outlooks and V1-04 traded down to 322.50 NOK/MWh at the lowest this morning. Fundamentally there is room for more downside, a Norwegian player argued, while a Swedish trader believed it was difficult to say whether there was a lot more downside left after the gappy Monday open.
The morning market found a new price level for the winter contract, as a low pressure is in the coming. Temperatures are low, however, and according to the Norwegian player that would prevent the spot from weakening.- We can expect some precipitation now, although not a lot, and the V1-04 contract could eventually have some more downside. Fundamentally it could come down to 300 NOK/MWh,
Montag, 20.10.2003, 11:28 Uhr
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