The index went down again this month, on a relatively low volume of contracts. The low number of trades at present could be due to reluctance on the part of buyers to sign up to longer term contracts at elevated prices. In other words, buyers may be betting prices will ease once the hydro lakes start to rise again.

The FPVV and CFD indexes in the opposite direction, as they did last month, but this month the FPVV index went down and the CFD index went up, the opposite of last month.