Despite a change in the weather situation, we maintain our sales recommendation for both the short-term and long-term contracts. We are not convinced that the drier weather forecasts will manifest itself in a change in the market. The declining commodities seem to have slowed a little in pace. But we still believe that coal and gas prices may fall going forward.

The change in weather forecasts has become more pronounced, and this is reflected in the system contract for the third quarter which is climbing. Long-term contracts also increases on the weakened hydrological balance.

The declining coal and gas prices are causing minor falls in the German market.

The shift to drier weather has been confirmed by the weather forecasts this week. The hydrological balance is declining and there are prospect of high temperatures from next week.
The hydrological balance is at 10.6 TWh, -1.4 down from yesterday (tuesday).

Good LNG supplies and hot weather forecasts are limiting demands. This causes the gas market to continue the declining trend.

Coal price continues to drop almost every day and the direction seems fixed at for the time beeing. In this week there seems to be no dominating sentiment in the oil market which is trading on a schism between improvements in economic fundamentals, including growth in Germany on the one hand, and record inventories that are growing week by week, on the other hand.