Energy Quantified has started working on a market update, where we look at the main market indicators on a weekly perspective. This blog series is a sneak peek into how the market update report would look like.
Updated 11 November 2020
The Nordic market is this week (46) dominated by the extreme pressure in hydropower and continued increasing hydrological balance. The bearish development will most likely continue next week, partly supported by more wind power. Normalizing temperatures for week 48 will give some upward support for the spot market.
The fuels and the associated SRMCs are slightly bearish at the moment, partly some upside support from news of the Coronavirus vaccine and US presidential election. The Nord Pool Month Ahead product is currently not influenced by the German Market and the fuels as the hydrological balance and weather outlooks are the dominating factors.