GO Week 24 Overview - Nordic forward prices increase is significant

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Highlights

• Prices for Nordic Hydro for past and forward vintages increased this week with the highest price increase witnessed in the 2021 vintage. 
• Recorded transactions and volumes decreased by 64% and 58%  with 2022 production GOs having the largest share of recorded transactions this week.
• The Nordic hydropower reservoir levels continue to recover, having increased by 5% in Week 23 of 2022. 

This week's focus seems to be on the current year and short-term forward year contracts, as in Week 23. Trading activity was focused on 2021 production products that had a 30% share of trades. This was followed by 2022 production volumes that accounted for a 32% share up down by 2% from last week's share. 2023 production vintages followed with a 20% share decreasing by 21% po...