October GO Market Overview

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October saw a price correction in the market with GO prices falling across the board except for Dutch Wind and Swiss Hydro 2019 Production. At the end of October, GO prices traded at levels last seen in the middle of July this year.

The price fall was especially pronounced for Nordic Hydro 2018 production, where trades conducted by our data partners took place for as low as 104 Eurocent/MWh. Volume-weighted average prices (VWAP) for Biomass fell considerably as well, but not as steeply as Nordic Hydro. The downward momentum was to a certain extent driven by intermediaries selling their long positions. While few producers are willing to sell at the current price level due to expectations of increasing demand towards the end of Q4 and during Q1. Furthermore, there was much less liquidity in the market during October with fewer trades ta...