The drop in forecast precipitation is lifting Nordic power prices on Thursday morning.
The Q4 11 and Q1 12 contracts went up 40 cents to EUR 51.00/MWh and 15 cents to EUR 51.65/MWh respectively. This is due to the drier forecasts as well as a slight increase in oil prices, Kai Vidar Myrhol, a trader with Norwegian utility Sognekraft said.
The various forecasts show highly varying levels of precipitation over the next 10 days with the EC 00 predicting 2.9 TWh
Donnerstag, 28.07.2011, 11:05 Uhr
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