Impacts of green deal policies on the Nordic power market

Niels Oliver Nagel, Christoph Böhringer, Knut Einar Rosendahl and Torjus Folsland Bolkesjø

Utilities Policy, 2023, vol. 80, issue C

Abstract: This study analyzes how the Green Deal affects the Nordic electricity and district heat market, considering carbon pricing alone and in combination with policy measures such as a coal phaseout, a renewable target, or an electrification strategy. Our findings show that the Green Deal targets significantly increase CO2 prices and power price variability. The Green Deal has a minor impact on Nordic electricity production, while a switch to increased power-to-heat is observed in the district heating sector. However, if the EU ETS is supplemented with other policies, generation mix, producer revenues, and CO2- and power prices are significantly impacted.

Keywords: European green deal; Energy system model; Nordic electricity market; Climate policy; EU ETS (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:juipol:v:80:y:2023:i:c:s0957178722001394

DOI: 10.1016/j.jup.2022.101475

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