Slightly wetter forecasts have contributed to push the market down this morning. But the forecasts are still drier than normal, and players argue that a large hydrological deficit limits the downside in the market.
After the Q3-06 contract reached EUR 50/MWh yesterday morning, the price has eased south with a last trade at 48.50 this morning, down 40 cents from yesterday’s close.“It seems as if the strongest players decided to be short yesterday and today, and they have been helped by falling oil prices and more uncertainty over the weather next week,” a Norwegian trader says.
Mittwoch, 14.06.2006, 11:06 Uhr
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