Electricity market
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Theme: Electricity markets. Fortum’s action plan. of delivery reliability, improving energy efficiency, and developing the functionality of the electricity markets. In the nordic countries electricity distribution is a natural monopoly and is monitored by national authorities. The electricity network business must be profitable to ensure sufficient investments in electricity networks and in the technology required. In a worst-case scenario, a low profit level would lead to the deterioration of electricity networks and a weakening in the distribution reliability, a halt in the development of the electricity markets, and a compromise in energy-efficiency and renewable energy targets. Regulation must also encourage players to develop and build smart grids, which electricity customers could benefit from on a Europeanwide scale. Smart meters and grids create the possibility to costefficiently achieve the climate targets set by society. They also enable the development of new kinds of hourlydata-based products and services and thus more efficient demand elasticity. Smart grids are also a prerequisite for the mainstreaming of small-scale renewable production. PaViNG thE way For NordiC rEtail markEtS expanding electricity wholesale markets, the EU’s energy efficiency requirements, the development of smart grids and metering, and the growing environmental awareness of consumers call for change in the electricity retail markets. The nordic countries have agreed to collaborate in the development of retail market, and the goal is to integrate the nordic retail markets based on the common nordic wholesale market by 2015. Integration of retail markets will give customers more choices and will accelerate the development and market launch of new products and services. However, implementation requires harmonisation of the rules, operating models and structures. From the customers’ perspective, electricity suppliers cannot have different ways of operating when comparing the services they offer – regardless of the supplier’s country of origin. For example, the procedures for switching electricity suppliers and for billing should be developed collaboratively. Having the strong political commitment for collaboration between the different stakeholders, nordic countries can again be the trailblazers when setting out to build the european electricity retail market. rEad morE about Fortum’s view of how the electricity market should be developed www.fortum. com/articles Fortum forAgendA 11
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