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Nordic power futures rebound on dry weather outlook


10 Aug 2022 08:17

10 Aug 2022 08:17

(Montel) Nordic power futures prices rose early on Wednesday, rebounding from the previous session’s drop as weather forecasts showed a return to dry conditions and a renewed risk for a further tightening of hydropower supply in southern Norway.

The September contract last traded at EUR 154/MWh, up EUR 10.79 from Tuesday’s close, while the front-quarter contract was EUR 6.50 higher at EUR 224.50/MWh. The front contracts shed EUR 17 and EUR 33 on Tuesday when forecasts pointed to wetter conditions for the hydropower-intensive region. 

The latest EC and GFS operational forecasts for Scandinavia indicated just 0.7-1 TWh of potential hydropower production in the next 10…

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