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Energy Investing
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Re: Day ahead (8/17/22) electricity prices in EuropeSource: https://www.nordpoolgroup.com/en/Market-data1/#/nordic/map The reasons for extremely low prices in northern Norway/Sweden are: - (much) more production than consumption, - Hydro reservoars are close to filled (many overflowing already due to a very wet summer), - There is very little transmission capacity from NO4/NO3 to NO1/5/2, but more connections into SE1/2. - And similar in northern Sweden, but even somewhat limited, they have more transmission capacity south to SE3/4. At 1-5 Euro/MWh, power producers loose money, and even wind farms have been shut down up north (wind farms have ren.energy certificates, but last 2 years, they are priced very low, c. Euro2/MWh, so no help) At TTF-price of Euro225 per MWh, multiply by 1.75 = c. $400/bbl, >4 times Brent price. Divide by 5.8 = c. $68/mln BTU Norwegian gas is as valuable as gold these days. Abt. 50% of Norway +4 mln b/d o.e. is nat.gas, nearly 100% exported to UK and Europe. The 3, biggest E&P-companies listed on Oslo Stock Exchange are: Equinor: OSE.EQNR, NYSE.EQNR Aker BP: OSE.AKRBP Vaar Energy: OSE.VAR I have shares in all of them |
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