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Key developments and challenges in the Nordic region

Key developments and challenges in the Nordic region. - Eurelectric Members’ Day. Oluf Ulseth CEO, Energy Norway Brussels, February 6, 2012. 25 %. 75 %. 7 %. 3 %. 17 TWh. 19 %. 18 %. 53 %. 1 %. 1 %. 4 %. 14 %. 28 %. 17 %. Total 399 TWh. 40 %. 95 %. 77 TWh. 8 %.

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Key developments and challenges in the Nordic region

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  1. Key developments and challengesin the Nordic region - Eurelectric Members’ Day Oluf Ulseth CEO, Energy Norway Brussels, February 6, 2012

  2. 25 % 75 % 7 % 3 % 17 TWh 19 % 18 % 53 % 1 % 1 % 4 % 14 % 28 % 17 % Total 399 TWh 40 % 95 % 77 TWh 8 % 123 TWh 2 % Hydro power 39 % Wind power 46 % 7 % Oher RES Nuclear power 5 % 21 % 145 TWh Fossil fuels 72 % Non-identifiable 37 TWh Source: ENTSO-E Electricity Generation in Nordic Countries 2010

  3. New generation – more transmission Investments in new emission free generation • Swedish-Norwegian joint certificate market established in 2012 • New RES targets in Denmark 2011 • Substantial nuclear capacity under way in Finland Integrated markets • Nordic system price - 12 price zones • Several interconnection projects under construction (NO-DK, NO-SW, FI-ES, SW-LI) • Projected power surplus in 2020, increases need for more transmission capacity with rest of Europe • Nordic TSO initiative on common balancing management Active consumers using new technology • Smart meters introduced in Sweden and Finland, under way in Norway • Nordic power retail market in progress -> 2015?

  4. Long term Nordic strategy for reduction of CO2-emissions • Electricity and district heating industries in the Nordic countries fully committed to • EU:s emission targets by 2020 • Carbon neutral power generation and heat production before 2050 • Three pillars: 1) Energy Efficiency, 2) low carbon technologies and 3) better connected European grid • ETS + binding national targets for the non-ETS sector the main tools • Climate targets for 2030 and 2040 in line with the 2050 target – important to decide on the ambition NOW!

  5. European Agenda for 2012 • Adopt the Energy Efficiency Directive • Adopt council conclusions on energy, transportation, climate and resources Roadmaps 2050 with a 2030 and 2040 GHG target to guide investments to decarbonize the power sector before 2050 • Adopt energy tax directive based on CO2-emissions and targeted for non-ETS sector • Adopt Horizon 2020 programme • 5,8 bn euro for energy R&D • Adopt conclusions on energy, transportation, climate and resources Roadmaps 2050 • Strengthen the functioning of the internal electricity market • Develop a coherent view on the electricity market • analyze the effects of different RES, energy efficiency, security of supply etc. targets and national interests on the electricity market • Ensure a framework for energy use of biomass

  6. Key messages • Substantial investments in new emission free generation, leading to a power surplus in 2020, underlining the need for more transmission • The Nordic strategy to meeting climate targets build on a European ETS and binding targets in non-ETS sectors • The European agenda for 2012 is all about adopting key legislative proposals and roadmaps, while strengthening the internal electricity market

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