The bears seem to have vanished from a Nordic power market that is once again heading north on Wednesday. Last week, the market corrected sharply down on Wednesday afternoon and Thursday. A Norwegian trader argued today that a small correction is possible this week, but that any correction now is nothing more than a good buying opportunity.
An international trader warned that the downside could be brutal just because everyone is bullish at the moment. The steadily tightening resource situation and a system price growing stronger every day continue to lift the market. Wednesday’s system price of NOK 181.65 (+11.39) is mainly attributed to Norwegian producers pricing their water higher, and the Oslo price is indeed gaining
Mittwoch, 28.08.2002, 12:45 Uhr
Olav Vilnes
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