(Montel) Nordic near-term power contracts surged on Monday, with the front month gaining 17% to hit a more than 2.5-month high and the bellwether front quarter reaching a one-month high amid colder forecasts and persistently high spot prices.
The December contract was last seen up EUR 11 at EUR 75/MWh, having hit EUR 75.10/MWh earlier, the highest level since 31 August.
Q1 was last seen EUR 5 higher at EUR 72.50/MWh, after hitting a one-month high of EUR 75/MWh earlier on Nasdaq Commodities.
“There is little doubt that the weather picture over the weekend is colder and also partly drier than we expected on Friday. A…