Minister of Energy Terje Aasland held this speech during the opening of the Nordic Electricity Markets Forum in Oslo.
Minister of Energy Terje Aasland during his opening speech at the Nordic Energy Markets Forum.
Good afternoon,
It is a pleasure to be here with you at the Nordic Electricity Markets Forum.
Thank you for coming to Oslo, and welcome to Norway – a country with a strong, clean, and reliable power system.
The Nordic countries have a long tradition of working closely together on electricity. Our shared electricity market has served us well for decades. It is a cornerstone for using our energy resources in the most efficient way, secure supply, and strengthen the competitiveness of our region.
The Nordic power system is highly integrated. Our exchange capacity is approximately 9000 MW, more than 22 percent of total installed production capacity.
Through strong interconnections and a shared market, we combine our different resources – flexible hydropower, thermal power, and nuclear energy, with growing shares of wind and solar.
This mix makes our system stronger.
It helps us deliver clean, affordable, and reliable electricity to people and businesses across the Nordics. But our system is also more weather dependent than before – and more volatile.
Due to our high level of interconnections, this volatility also affects the Norwegian power system.
High demand for power during periods of low solar and wind power production in Europe puts pressure on Norway's flexible hydropower capacity, especially in southern parts of the country.
Today, electricity is more important than ever for the Nordic economies.
Secure, competitive, and green electricity is not just important for the energy sector.
It is crucial for industries and key to succeeding with the green transition.
Our cooperation on electricity is directly linked to Nordic competitiveness.
And we need to work together to figure out how we can handle increasing production of intermittent energy – our strong cooperation is the key to success for the green shift.
By maintaining and strengthening our shared market, we build a strong foundation for growth, innovation, and new investments across all sectors.
The Nordic power system is often seen as a model by others.
It shows that open markets, close cooperation, and mutual trust deliver great results.
This gives us an advantage as the world is changing fast.
The energy landscape is evolving.
Europe is moving towards more renewable and weather-dependent energy.
This brings new challenges – more variability in production, a greater need for flexibility, and more pressure on our power grids.
At the same time, competition for clean energy is growing worldwide.
Access to affordable, fossil-free electricity will be crucial for attracting investments and new industries.
Here, the Nordics have a head start.
We already have a mostly fossil-free system.
We have strong connections, efficient markets, and a long history of working together.
By continuing to develop our shared electricity market, we can strengthen our position even further.
This fits well with the discussions we see in Europe today – in the Draghi Report on competitiveness, the Clean Industrial Deal, and the Affordable Energy Action Plan.
They all show how important clean and affordable energy is for future growth.
To succeed, we must work together.
We need secure and sufficient energy production.
We must build stronger grids, encourage more flexibility, and keep our markets open and efficient.
And we must respect that our countries have different energy systems and national priorities. This has always been a strength of Nordic cooperation.
By staying close and developing our shared market, we can make sure the Nordics stay ahead in the green transition – and boost our competitiveness in a changing world.
I wish you the best of luck with your important work.
Thank you.
Source: Government.no
