The Nordic countries are ideally placed to develop the world’s smartest low-emission energy market. This will allow the region to respond to the challenges of climate change and to strengthen its future competitiveness, argues the Climate Leadership Coalition (CLC), a network of leading businesses, universities, research institutions and cities in its proposal submitted to Nordic governments and industry stakeholders.
Energy ministers from the Nordic countries gathered on 22 May to discuss the creation of a joint energy market, as outlined in a report: Nordic Energy Co-operation: Strong today –stronger tomorrow drawn up by Jorma Ollila in 2017.
– The Nordic countries already have an excellent track record of mutually beneficial, cross-border collaboration on energy issues. What we need now is a joint vision for the future of the Nord Pool market, Jorma Ollila says. As a member of CLC, Mr Ollila was involved in drawing up the proposal.
The Nordic energy markets are currently under intense pressure to effect change and also face a number of challenges, including the issue of how to manage electricity production and regulate demand as weather-dependent electricity generation increases.
– Another key challenge is our growing reliance on digital technology. Transport, heating and cooling and manufacturing processes will be increasingly reliant on electricity, with the role of the energy producer and the energy consumer also seeing significant change. We need new legislation, new business models and new markets to respond to this and it makes sense to do so jointly with the Nordic nations, argues Kaisa Hernberg, CLC Development Director, responsible for managing the organisation’s energy initiatives.
Private sector enterprises want to see governments taking action on joint standards, harmonising taxation for flexibility solutions, harnessing public infrastructure to drive innovation and developing the distribution network. Some of these needs came up also in a recent report “Nordic businesses on climate transition, competitiveness and growth”.
– The Nordics are leading the way on new technologies, solutions and services. What we need now is targeted action to ensure that we make the most of this excellent work and use it to benefit the entire market and generate innovations for the international market, Jouni Keronen, CLC Executive Director, comments.
– Right now, within EU, there is particularly strong demand for Nordic cooperation, initiatives and examples. A harmonised energy model would create a highly attractive Nordic market environment, just as Nordpool harmonized electricity sector since its establishment in 1993. The Nordic countries recognize that digital standards, energy efficiency targets and incentive schemes differ in the region but we lack sufficiently detailed data and concrete proposals. The country level officials are busy dealing with the workload generated by the EU legislation and creating national energy strategies, and do not have adequate resources to drive the pan-Nordic market harmonization. To address this, CLC is proposing a time-limited working group utilizing the model of Smart&Clean-foundation in Finland, funded by both pan-Nordic public and private sectors, says Henrik Ehrnrooth, Chairman of the Climate Leadership Coalition board.
To find out more, please contact:
Kaisa Hernberg, Development Director, Climate Leadership Coalition, firstname.lastname@example.org, +358 405623242
Jouni Keronen, Executive Director, Climate Leadership Coalition, email@example.com, Tel. +358 50 4534881