Nordic market design forum - enhancing the world's first regional electricity market
(Thomson Reuters ONE) -
PÖYRY PLC Press Release 11 September 2017 at 10:15 am (EEST)
Electricity markets worldwide are changing rapidly in the face of increasing
renewable generation, technological developments that empower the customer,
digitalisation, as well as new technologies such as storage. The cross-border
Nordic electricity market, which is the world's first regional market and which
served as the inspiration for the European 'Target Model', is being affected by
these trends. The Nordic surplus of flexible generation capacity is expected to
continue, while the need for flexibility in neighbouring countries will
increase. How can the flexible resources of the Nordic region reach their full
market potential? How could the Nordic market design evolve to meet the new
challenges?
A new report from Pöyry presents the results of a 1.5 year project with
collaboration from 10 key Nordic energy organisations - Danish Energy
Association, DONG Energy, Energinet, Elering, Fingrid, Finnish Energy, Fortum,
Statkraft, Energi Norge and Vattenfall - and sets out the direction for changes
to the Nordic market design.
The Nordic market design vision described in the report envisages a larger role
for the market across different trading timeframes. Our vision would give the
Nordics an opportunity to be a first mover in providing a high level of security
of supply in a market-based and cost-efficient way, while incentivising
innovation and investment where needed. The proposals would deliver an efficient
and competitive Nordic electricity market, minimising the need for political and
regulatory interference.
The core of the proposals is to strengthen the 'energy only' market design,
which should:
* support system operation;
* empower consumers;
* send economic and robust price signals for efficient resource allocation;
and
* support innovation and the incorporation of new technologies into the
market.
"Nordic market design needs Nordic solutions and concepts at a Nordic level"
says Project Director Stephen Woodhouse from Pöyry. "Our work, developed with a
wide range of Nordic stakeholders, fills an important gap. The strong debate
between participants throughout the project underlines the need for a continuous
regional dialogue on these topics. The report provides an important and timely
contribution to the regional debate and we look forward to seeing the concepts
being taken forward."
The changes to Nordic market design could be implemented by 2020 with a visible
impact by 2025.
The following areas are covered in the report:
* Real time price signals that support system operation and market
functioning;
* An enhanced intraday market better equipped to facilitate the market
functioning;
* System services that are adequately rewarded and similarly compensated
across the Nordic market;
* A more Nordic market design for strategic reserve that does not distort
market price signals;
* A roadmap for implementation of the next steps of the market design
proposals; and
* The creation of an enduring market design forum to monitor progress and
drive the change.
Read the Executive Summary or the full report [links]
Contact
Oliver Pearce, Principal, Pöyry Management Consulting
Tel. +358 50 379 3076
oliver.pearce(at)poyry.com
Stephen Woodhouse, Director, Pöyry Management Consulting
Tel. +447970572444
stephen.woodhouse(at)poyry.com
Did You Know? 90% of the key energy utilities and investors in Europe ask Pöyry
for regular advice.
About Pöyry
Pöyry is an international consulting and engineering company. We deliver smart
solutions across power generation, transmission & distribution, forest industry,
chemicals & biorefining, mining & metals, transportation and water. Pöyry's net
sales in 2016 were EUR 530 million. The company's shares are quoted on Nasdaq
Helsinki (POY1V). Approximately 5500 experts. 40 countries. 130 offices.
www.poyry.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Pöyry Oyj via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 11.09.2017 - 09:17 Uhr
Sprache: Deutsch
News-ID 559369
Anzahl Zeichen: 4877
contact information:
Town:
Vantaa
Kategorie:
Business News
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"Nordic market design forum - enhancing the world's first regional electricity market"
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