Much of the air seems to have gone out of the bull balloon this morning, but players await to push the market down before a more damp weather scenario is confirmed. Contracts across the board trade a few NOK/MWh below yesterday’s closing prices, but volumes are low.
Surprisingly low reservoir levels and a dry GFS forecast pushed the market to August highs yesterday with V1-04 closing at 335 NOK/MWh. Today the winter season opened 10 NOKs lower in the OTC market, recovered to 330, and traded last at 329.- There have been too much panic in the market lately. There is no reason why the V1-04 should gain 50 NOK/MWh in three days. As soon as more wet for
Donnerstag, 9.10.2003, 11:50 Uhr
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