Nordic power forwards are falling on Monday morning on the back of a soft spot price, a wet weather outlook and a mounting eurozone sovereign debt crisis, with the front quarter hitting a 10-month low.
The Q4 11 contract was last seen down EUR 1.42 from Friday's close at EUR 45.50/MWh, a level not seen since 11 November.
The October contract had meanwhile shed EUR 1.90 at EUR 42.10/MWh, and the week 38 contract EUR 4.50 at EUR 34.00/MWh.
The curve was "bearish across the board”, traders agreed, pointing to a soft system price for Monday at EUR 29.18/MWh, and
Montag, 12.09.2011, 10:51 Uhr
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