The market opened the week in a bearish state seeing the weeks down 12-18 NOK/MWh from Friday and the forwards approaching their lows from last Monday. “It is hard to find any fundamental explanations for the sharp fall. I think it is mainly due to psychology”, said a Norwegian analyst. At noon, most contracts had adjusted some NOKs up.
“I am surprised that the weeks have fallen as much as they have done today. There is nothing fundamental that indicates such a sharp drop. Actually, forecasts are slightly colder and it is not expected huge amounts of precipitation either," the analyst said.Week 15 opened almost 10 NOKs lower than the delivery price of Week 14 at NOK 235 and continued down to NOK 230 before turning
Montag, 31.03.2003, 12:10 Uhr
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