The trend in the Nordic forward market has been characterised by changing weather forecasts and a volatile fuel market. Nevertheless, at the current time it looks like the temperatures will get closer to normal, and the weather forecasts confirm more precipitation for the coming period. This meant that the Q3-18 contract was traded down substantially on Monday, with some of the loss being regained on Tuesday. The YR-19 contract was also influenced by a lower carbon emissions allowance price and a lower fuel complex. The contract was traded down to its lowest level for more than a month.
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The energy markets have experienced a week of further price falls, and the otherwise steadily climbing carbon emissions market has shown that the higher the climb, the further there is to fall, and the fall could be significant.