GO Week 23 Overview - Nordic Hydro and Spain GOs rising

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Highlights

• Prices for Nordic Hydro vintages increased this week with the highest price increase witnessed in the 2023 vintage. 
• Recorded transactions and volumes decreased by 42% and 42%  with 2023 production GOs having again the largest share of recorded transactions this week as participants continued hedging forward year consumption. 
• The Nordic hydropower reservoir levels continue to recover, having increased by 6.9% in Week 22 of 2022. 

This week's focus seems to be on the current year and short-term forward year contracts, as in Week 22. Trading activity was focused on 2023 production products that had a 41% share (same as Week 22) of total volumes. This was followed by 2022 production volumes that accounted for a 32% share up from a 27% share last week. 202...