The Nordic front quarter hit a near 16-month low of EUR 43.50/MWh on Tuesday, before recovering due to a combination of profit-taking and technical buying, players said.
"The weather forecasts remain much wetter and milder than normal, so the fundamental picture remains bearish. But we have seen some technical buying interest today which could explain why prices have recovered from early lows,” said Pål Johannesen, portfolio manager at Norway's Bergen Energi.
The Q1 contract was last seen at EUR 44.00/MWh, down 30 cents day on day but
Dienstag, 22.11.2011, 11:02 Uhr
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