On 18–19 May, the fourth Nordic Electricity Market Forum was organized by the Electricity Markets Group at the beautiful premises of the House of Estates in Helsinki. Energy stakeholders composed of producers, DSOs, TSOs, and representatives from the energy intensive industry, marketplaces, and, for the first time, the wind and hydrogen industry, gathered to explore and mobilize around this year’s topic – electrification.

The aim of the forum is for the energy stakeholders to formulate expert advice highlighting critical measures in order to achieve Nordic electrification. These recommendations will serve as input in political discussions and decision-making, amongst others at the Ministerial Meeting in the autumn of 2022.

The House of Estates in Helsinki

Two days of lively discussions

After an opening online greeting from Mika Lintilä, Finnish Minister of Economic Affairs, the two day forum was imbued with buzzing activity and insightful reflections, as the energy representatives participated in inter-Nordic as well as interdisciplinary group discussions. By way of resolute co-operation, the forum succeeded in strengthening common understanding, inspiring further dialogue, and purposely bringing forth constructive advice on electrification, which are key to meeting the climate targets efficiently.

The suggested recommendations could be summarized into four points:

  • Joint Nordic energy transition planning
  • To improve price signals and other aspects of the investment environment
  • Promoting unique Nordic strengths in Europe
  • Politically promoting joint Nordic long-term grid planning

These recommendations are a follow-up on the Roadmap towards the ambitious Nordic climate goals, which was adopted by the Nordic Ministers of Energy in 2019 and updated in 2021 with input from last year’s Nordic Electricity Market Forum.

Group discussions in progress

The discussions were partly inspired by the forum’s keynote speakers Viktoria Karsberg, VP Head of Corporate Identity and Group Communications at SSAB, and Jukka Ruusunen, CEO of Fingrid. They elaborated on the industry perspective on electification, and on building the platform for electrification.

Collaboration on site and on EU level

The forum did not only commence and proceed vigorously, but also end on a positive note. Before the closing of the forum, Catharina Sikow-Magny, Director of Internal Energy Market at the European Commission, made an appearance, stating that “We would certainly like to hear the Nordic voice even clearer in Brussels”. Such a co-operative approach between the EU and the Nordic region is not least relevant in relation to the Electricity Markets Group’s recently published report on regulation of independent aggregators. As this report analyses what lessons the Nordics can learn based on the experience of selected European countries, Catharina’s notion are in line with the ambitions of the Electricity Markets Group as well as the forum.

In addition, Tatu Pahkala, Chair of the Nordic Electricity Markets Group and Senior Adviser at the Ministry of Employment and Economy, and Andrea Stengel, Senior Adviser at Nordic Energy Research and responsible for the secretarial services of the Nordic Electricity Markets Group, were both pleased with the commitment and contributions at the forum.

“I am happy with what I have seen and think we have received very good input for the next steps here. The participants have been enthusiastic, interested, and engaged in providing their input,” says Tatu.

“Everyone puts value on talking to each other within and across sectors. As soon as you ask a question, the volume in the room increases. The discussions have been intense and could very well have continued beyond the allocated time,” says Andrea.

Catharina Sikow-Magny attending remotely on the left. Tatu Pahkala and Andrea Stengel on the the right.

The Electricity Markets Group is a working group under the Nordic Council of Ministers, where Nordic Energy Research acts as a secretariat. The working group consists of experts from the Ministries and the energy authorities of Denmark, Finland, Norway, and Sweden, in addition to Åland.

More information about Nordic Electricity Market, the Forum, and previous sessions.