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Common solutions are vital in the Future Nordic Power System

The power system will experience major changes due to climate policies, technological development and new regulatory frameworks. Today the Nordic TSOs present a report on common solutions for the future Nordic power system.

At the Stakeholder Seminar arranged by the Nordic TSOs Wednesday, the report The Way forward – Solutions for a changing Nordic power system was presented and discussed. The report follows up the findings from a common Nordic report on challenges and opportunities in the Nordic power system presented in 2016. Solutions span from market measures, balancing and grid development to ICT development.

The power system is becoming more complex and more integrated, with a steady increase in renewables and new regulatory issues. This creates new challenges and opportunities in the Nordic power system, and cooperation both across country borders and between different stakeholders is a prerequisite for success. The needed solutions identified by the Nordic TSOs have been developed with input from stakeholders in the sector.

– Common market solutions are key tools to ensure generation adequacy, efficient use of the power system, transparent investment signals and competitive prices for consumers. Common Nordic solutions paired with dedicated national solutions are important to ensure that we meet the challenges in the future. We see that if the power system develops in line with national projections and necessary solutions are developed, challenges are expected to be solved, say the CEOs of the four Nordic TSOs in a joint statement.

Energinet, Fingrid, Statnett and Svenska kraftnät also note that policy measures are needed.

– Furthermore, a regional approach for developing the regulatory framework is needed to ensure that policies and measures are efficient, coherent, complementary and sufficiently ambitious. Preparing the Nordic power system to cope with the challenges ahead can only be secured in combining efforts in energy policy and common and dedicated solutions, say the CEOs of the four Nordic TSOs.

The report is available for download here.