(Montel) Nordic power futures jumped up to EUR 4 on Tuesday – after yesterday’s surge – as the latest forecasts confirmed a shift to drier and colder weather next week, though the spot price was set to collapse.
Different forecasts indicated precipitation in the region equivalent to 8.6-10.3 TWh of hydropower production over the next 10 days, compared to the seasonal average of 7 TWh, data from Montel’s Energy Quantified (EQ) showed.
The December contract was seen up EUR 4.25 at EUR 44.75/MWh, while the front quarter rose EUR 2.50 to EUR 65/MWh. On Monday, the contracts gained EUR 10.90 and EUR 9.25, respectively.
The rise was mainly due…
