(Montel) (Montel) Nordic power prices rose amid drier weather forecasts on Tuesday, although the hydrological balance remains strong ahead of winter.
The Q4 contract last traded up EUR 2.03 at EUR 36.53/MWh, recovering from a 20-month low of EUR 34.75/MWh reached in the previous session.
The October contract was last seen EUR 2.80 higher at EUR 20/MWh at Nasdaq Commodities.
“Forecasts indicate more normal temperatures and precipitation, which supports the market,” said Erik Andre Helseth, trading manager at Norwegian utility Tafjord Kraft.
Various models forecast precipitation equivalent to 7.4-7.9 TWh…