With possible omega high weather outlooks, the V1-04 contract gapped up to 400 NOK/MWh at open. A Norwegian trader argued that the producers had started to buy back what they sold earlier this year, but that more bullish information would be necessary for prices to lift further. Another Norwegian trader saw no signs of a weather change, and consequently “it won’t stop here, but there will be a battle around the 400 NOK/MWh level.”
The price lift has been formidable the last days, seeing V1-04 traded at all time high 408 NOK/MWh this morning. Comparatively, V1-03 was traded at 670 NOK/MWh at the highest on December 5 last year, something that shouldn’t happen this year, but could, the first trader argued. Possibly higher, not drierDespite all possible outcomes ahead, he nevertheless ar
Dienstag, 4.11.2003, 11:32 Uhr
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