Friday, 15 February 2019
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The front-month contract for Nordic power is trading significantly lower this week as milder weather, lower fuel prices and expectations of more water inflows to hydro reservoirs in the coming weeks are weighing on power markets.
Weakening Nordic power prices have likely had a bearish impact on prices for Guarantees of Origin as well. Current year Nordic Hydro GOs have plunged around 20% this week to 110.50 Eurocent/MWh Friday afternoon- levels not seen since end of October when prices dipped after record highs in September.
The outlook for water inflows and temperatures in the Nordic countries are expected to continue weighing on the power price according to Refinitiv’s weather models. Potential hydropower production from rain an...