(Montel) - Nordic power for September and Q4 hit new contract highs on Tuesday, buoyed by ever-firmer spot prices and dry weather forecasts.
The September contract hit a record high of EUR 63.50/MWh, up EUR 2.75, while Q4 gained EUR 2.20 to EUR 61.70/MWh on Nasdaq Commodities. The contracts have risen 22% and 19%, respectively, since the end of July.
“It’s incredibly strong at the moment, driven by dry weather and very strong prices on the continent amid high gas, coal and carbon prices,” said Frode Myrland, trader at Eidsbotn…
