Electricity market
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An absolute prerequisite for European internal markets is the construction of infrastructure. mikael Englund Electricity customer, Finland riku huttunen Director General of the Finnish Energy Market Authority ”The Finnish electricity retail market functions well as do the Nordic wholesale market. In practice, the wholesale market is also expanding towards the Baltics and Central Europe, which increases competition and the significance of European regulation. It is important to secure sufficient electricity transmission capacity between countries and in national networks. It would be good e.g. to develop the transparency of the markets in terms of regional prices. The electricity price peaks seen in the Nordic countries last winter indicate that flexibility in supply and demand is small in high consumption areas. We must consider how to increase the markets’ ability to respond to exceptional price signals. A report about the development of demand flexibility will be completed in autumn by the Nordic energy authorities’ collaboration body NordREG. The absolute prerequisite for creating integrated European markets is a sufficient transmission infrastructure. More capacity is needed between countries. The increase in renewable energy also requires investments into smart grids. An EU-level challenge is to come up with a common view on the funding of these projects that have cross-border implications. Subsidies distorting competition are not the solution; instead, the starting point must be financial profitability.” ”We try to monitor and adjust our electricity consumption at times, and we have tendered our electricity agreement. But there should also be more offers and price comparisons. Choosing an electricity supplier is not an easy decision as it is difficult to compare prices. Thus, from the customer’s perspective, buying electricity in Finland does not seem to be straight forward enough; transparency in pricing principles is in need of improvement, particularly in electricity distribution. How the electricity is produced also has some significance when choosing a supplier. Although assessing the total bottom line is not simple. Renewable energy technology is expensive and uncertain. Also the production of the equipment ties up a lot of resources. Smart electricity networks and automation in homes, e.g. real-time monitoring of consumption and independent, small-scale generation are interesting solutions – if they can be realised at a reasonable cost. The automated control systems related to these solutions could be interesting as well.” Fortum forAgendA 7
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