Nordic forwards are rising on Thursday morning on the back of drier weather forecasts and strong technical signals, offsetting wider economic concerns, traders said.
The bellwether Q3 10 contract had gained EUR 0.35 day on day at EUR 49.75/MWh, down from an earlier high of EUR 50.75/MWh. Meanwhile, the contract for 2011 delivery had risen EUR 0.35 to EUR 46.60/MWh, also down from a morning peak of EUR 47.15/MWh.
Drier weather forecasts were the main price driver, with markets reacting strongly due to a large deficit in the hydropower balance
Donnerstag, 27.05.2010, 10:59 Uhr
Redaktion
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