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Strengths and weaknesses of the Nordic market model

In: Handbook on Electricity Markets

Author

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  • Chloé Le Coq
  • Sebastian Schwenen

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.

Suggested Citation

  • Chloé Le Coq & Sebastian Schwenen, 2021. "Strengths and weaknesses of the Nordic market model," Chapters, in: Jean-Michel Glachant & Paul L. Joskow & Michael G. Pollitt (ed.), Handbook on Electricity Markets, chapter 10, pages 287-307, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:18895_10
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