While weather forecasts before the weekend were very dry, the ones presented during the weekend and this morning were no less dry. V1-04 lifted to 349 NOK/MWh and the market is getting less comfortable with the price level, high volatility and low liquidity, questioning the length of the high.
The trend is bullish and players are beginning to recognize a pattern from last year with prices gapping to new levels, more than 20 NOK this morning. Traders we spoke with today were far from ready to say that the market will become like last winter, however, arguing that prices fall quickly as well, although not as quickly as they elevate. Volatile price levelA
Montag, 13.10.2003, 12:04 Uhr
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