Dry weather forecasts triggered the bullish gap this morning and stop-losses contributed to the size of the increase. V2-03 lifted 14.50 NOK to 312 NOK/MWh at the highest, but players are reluctant to say that this is a correct price level. “This does not follow the fundamental price,” a Norwegian trader said.
A Swedish player agreed, and found it difficult to explain the price-lift, seeing roughly normal amounts of precipitation delivered this far in July. Some 1.2 TWh was forecast the last 24 hours, while only some 300 GWh was delivered, and a blocking high is possibly building up towards the end of the period. Despite this, players we spoke with this morning did not
Dienstag, 29.07.2003, 11:33 Uhr
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