The Wednesday morning market leaped up, seeing a higher probability for a dry end in the weather outlooks. V1-04 traded up to 347 NOK/MWh, before sagging back a few NOK. A Norwegian trader believed a 315-345ish range had been established, and did not expect the market to be willing to go further for the time being. A trader at a Norwegian production company also argued that the market lacks incentive to buy it much more up than this morning.
After the morning lift the market calmed down as players started selling. According to the Norwegian trader it would take much more to see prices lift further.- 347 NOK/MWh could very well be the top. It looks like a range 315-345ish has been established and players seem much more willing to trade in the range than to buy it further up. The high pressure is naturally interesting, and the
Mittwoch, 29.10.2003, 11:53 Uhr
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