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POWER: Nordic Oct Power Removes Gains on Wetter Outlook

POWER
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The Nordic October power base-load contract has erased some of the earlier gains, after rising to an intraday high of €21/MWh, weighed on by an upward revision of Norway’s hydro balance that was unchanged in the morning.

  • Nordic Base Power OCT 24 up 0.7% at 20.3 EUR/MWh
  • Germany Base Power OCT 24 up 1.1% at 83.02 EUR/MWh
  • TTF Gas OCT 24 up 1.7% at 36.4 EUR/MWh
  • The Nordic front-month, however, remains in positive territory supported by gains in the German market amid higher natural gas prices.
  • TTF is climbing after having fallen to the lowest since Aug. 5 on Wednesday as markets are focussing on supply disruptions from Norway and Algeria.
  • Norway’s hydrobalance is forecast to rise to 3.35TWh on 19 September, compared to +2.82TWh forecasted in the morning.
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The Nordic October power base-load contract has erased some of the earlier gains, after rising to an intraday high of €21/MWh, weighed on by an upward revision of Norway’s hydro balance that was unchanged in the morning.

  • Nordic Base Power OCT 24 up 0.7% at 20.3 EUR/MWh
  • Germany Base Power OCT 24 up 1.1% at 83.02 EUR/MWh
  • TTF Gas OCT 24 up 1.7% at 36.4 EUR/MWh
  • The Nordic front-month, however, remains in positive territory supported by gains in the German market amid higher natural gas prices.
  • TTF is climbing after having fallen to the lowest since Aug. 5 on Wednesday as markets are focussing on supply disruptions from Norway and Algeria.
  • Norway’s hydrobalance is forecast to rise to 3.35TWh on 19 September, compared to +2.82TWh forecasted in the morning.