Strengths and weaknesses of the Nordic market model

Chloé Le Coq and Sebastian Schwenen ()

Chapter 10 in Handbook on Electricity Markets, 2021, pp 287-307 from Edward Elgar Publishing

Abstract: The Nordic power market comprises the national electricity markets of Norway, Sweden, Finland, Denmark and, more recently, the Baltic States. It ischaracterisedby relatively low market pricesand high shares of low-carbon generation, foremosthydropower, but alsonuclearpower andincreasing sharesof wind power.The Nordic power market's unique multi-national architecture and governance are both its strengths and its weaknesses. There are clear benefits from poolinglow-carbontechnologies across borders, having one Nordic wholesale pricing system,and being under one regulatory body. However, a strong coordination between countriesandneighbouringsystem operators is required, especially with regards tocross-border trading, balancing, and congestion management.

Keywords: Economics and Finance; Environment; Law - Academic (search for similar items in EconPapers)
Date: 2021
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