Electricity market

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Arguments Theme: Electricity markets. Various market participants present their views. Clear outlook for electricity markets? There are several pieces to the Nordic electricity puzzle. What role and impacts do the different solutions have – and how does the future look for the electricity markets? Katri Koskela Janne Harju e nergy is a critical commodity for modern society and its development. even if overall energy consumption could be turned around and put on a declining course, electricity’s relative share of total energy consumption will grow in the future when electricity replaces less efficient energy sources in e.g. industrial processes and traffic. electricity markets in the nordic countries are made up of three subareas: the nordic wholesale markets, national retail markets and local electricity distribution. electricity producers sell the electricity they produce to the nordic power exchange, where electricity retailers buy electricity and resell it to their own customers. Customers, in turn, choose the vendor from which they want to purchase their electricity. electricity network companies are specialised in electricity distribution. each network company always holds the exclusive right and responsibility to operate the electricity distribution in their area, because it is not feasible to build parallel networks in the same area. nordic countries have formed the world’s first electricity market which covers several countries. about 350 producers sell electricity in the nordic wholesale market, and the same amount of retailers on the retail markets. The nordic electricity markets function well; there are a lot of market participants and business is brisk. The electricity markets in many other european countries are still quite centralised. The eU is aiming to achieve an integrated european electricity market by 2014. In terms of the environment, the method used to produce electricity and the efficiency of the production method in question does matter. The production portfolio, in turn, is affected above all by the resources and national decisions regarding e.g. renewables and nuclear power. The choice of production A diverse production portfolio is in use in the Nordic countries, and that is a significant advantage. » 5 Fortum forAgendA

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