The front year Nordic power contract has dropped below EUR 40/MWh for the first time since March 2010, as prices fall on the back of wet forecasts and a weak macroeconomic outlook.
The Year 2012 contract was last seen at EUR 39.75/MWh, down 85 cents day on day, while the Q1 11 contract was down one euro at a new all-time low of EUR 40.60/MWh.
"It's all bearish. We have a strong hydrological surplus while the short term marginal cost of coal trends down,” said Henrik Wennberg at Swedish hedge fund Coeli.
The weather forecasts predict betw
Dienstag, 6.12.2011, 11:21 Uhr
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