NVE announced the precipitation values for week 11 on 11 March 2026. The total precipitation is expected to be 1.9 TWh above the seasonal norms, which is anticipated to cause the deficit in the Norwegian hydrological balance to shrink. The deficit in the hydrological balance for week 10 was announced to be at 24.3 TWh. If hydro output remains at normal levels during this week, the weekly hydrological balance deficit could shrink to slightly above 22 TWh.
As Veyt has previously reported, Nordic hydro producers seem to have been relatively inactive in the GO market since prices started going up at the end of January. This is likely attributed to the uncertainty over the total hydro production that they could commit to sell for the whole of 2026, due to the large hydrological balance deficit.
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