Nordic energy - Pulic Services International Research Unit.doc
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1、PSIRUpsirupsiru.org04/02/20 The Nordic Energy Marketby Sam Weinstein Research Fellow, PSIRU, School of Computing and Mathematical Sciences, University of Greenwich二月 201. Introduction32. Norway3A. The Creation of a Power Exchange3 How power is exchanged4B. Corporatisation, concentration and public o
2、wnership4 Table 1 Largest Power Generation Companies in Norway, 19955 Table 2: Major Electricity Companies in Norway, and owners, November 20005C. Impact of liberalization: industrial prices fall, domestic prices rise53. Sweden6A. Nord Pool in two countries6B. Generation patterns6C. Residential cons
3、umers again lose6 Table 3: Major Power Companies in Sweden, November 200074. Finland7A. Separation of grid and joining Nord Pool7B. Generation8 Table 4: Major Power Companies in Finland, November 200085. Denmark8A. Consumer coops and municipal companies9B. Law prevents profit from privatisation9C. T
4、wo grids, one Nord Pool96. Promises versus Realities9A. Ownership9B. Market Power9C. Reserve Capacity10D. Taxation policy10E. European integration will also tend to raise prices117. Impact on the Baltic States12A. Estonia, Latvia, Lithuania re-orienting their connections12B. Modernising infrastructu
5、re13C. The multinationals in the Baltics13D. Looking for regional solutions: a possible merger of state electricity companies13 Table 6: Penetration of multinationals into Baltic Electricity148. Gas14 Table 7: Ownership of gas companies in The Nordic and Baltic Countries149. Environment and employme
6、nt15A. Environmental policy15B. Employment practices and trends16Notes171. IntroductionThe countries under consideration are Norway, Sweden, Finland and Denmark and the relationship between the Nordic market and the newly emerging Baltic market. Iceland is considered a Nordic country, but since it i
7、s so geographically remote from the others, it does not participate in the Nordic Energy Market yet. Electricity generation and distribution in Iceland are publicly owned, with Landsvirkjun dominating generation, as well as owning and operating the main power grid. The power companys present ownersh
8、ip structure and shareholders comprises the State of Iceland (50%), the City of Reykjavik (45%) and AkureyriTown (5%).Virtually all electricity in Iceland is produced from hydropower and geothermal power. These two sources contributed generation of 5,500 MW of electricity in 1998. Latest Landsvirjun
9、 research has estimated that Icelands economically exploitable electricity potential from the countrys hydro sources totals some 18,000 MW. Iceland recently opened talks on building a sub-sea cable to export surplus power to northern and continental Europe with the Finnish government, which currentl
10、y holds the presidency of the European Union. Sept 1999 In most if not all economies the energy sector, and electricity generation and distribution in particular, is the largest single industry in terms of total invested capital. The Nordic countries are no exception. For many years prior to liberal
11、isation in any of the Nordic countries there was some cooperation and exchange of power through bilateral agreements to stabilise supply problems (for instance in very dry years when Norways dependence on hydro posed problems.) Electricity prices were some of the lowest, not only in Europe, but anyw
12、here in the industrialised world. Creation of a multinational energy pool could be the basis for multinational planning, allowing all consumers to benefit from cheap, environmentally sensitive power based on differing conditions in a much larger geographic area which could include the Baltic countri
13、es and beyond. Instead, planning is increasingly being done by market forces.As a result, vertical integration is taking place in Norway, Sweden and Finland; a greater divergence of price between industrial and residential consumers is developing, with residential consumers suffering price increases
14、 even as the overall price of energy falls; and for the first time there are government discussions about the possibility of actual electricity shortages, possibly even interruptions of services. We are also witnessing the functioning of corporatised state energy companies which are increasingly act
15、ive in mergers and acquisitions not only on a national but an international scale. As a result concentration is taking place both nationally and internationally.On the other side of the Baltic sea, the Baltic countries are working to relieve their dependence on former regional ties to Russia, by inv
16、iting in foreign capital investment to repair old infrastructure but unfortunately loosing flexibility by doing so. They too are looking for regional solutions, with each other, and their neighbours to the west and south. Workers in the industry who are used to stable employment will have to deal wi
17、th a very different world.2. NorwayIn 1991 Norway embarked on a program of liberalisation for the purpose of equalising prices in different regions of the country and to increase efficiency It is paradoxically Norway, a country entirely supplied by relatively cheap hydropower and not a member of the
18、 European Union, which started the restructuring of its electricity sector in 1991, the year of enforcement of its Energy Act. The goal of this reform was to level the price in different regions, improve the efficiency of production and grid operations, give a better signal to customers and also to
19、provide more incentives for optimal investment. From Power Economics August 7, 2000. While Norway is the second largest exporter of oil in the world BUSINESS OUTLOOKNorway: Oil May Lubricate a SlowdownThe boost in petroleum prices, generated by the agreement among OPEC and four non-member nations, c
20、omes at a good time for Norway, the worlds No. 2 oil exporter and a non-OPEC member of the pact. Its economy faces sharply slower growth this year and next, after six years of strong growth. And higher oil prices give Norges Bank, Norways central bank, added leeway to cut interest rates. behind Saud
21、i Arabia, electricity generation is accomplished almost exclusively (99%) with cheap hydro-electric power. Norway has the highest per capita use of electricity in world, much of it being used to pump oil and gas out of the North Sea mainly for export. In 1992 transmission was separated from distribu
22、tion and generation and put in the hands of Statnett, a wholly-owned, independently-run state enterprise. A system of access tariffs was established to level the playing field for all who wanted access to the grid on a kind of postage stamp basis the distance between the producer and the distributor
23、 had nothing to do with price of transmission.A. The Creation of a Power ExchangeStatnett was also put in charge of the creation of a Norwegian power exchange called Statnett Marked. Statnett Marked consisted of a spot market for trading power for the next 24 hours to ensure grid stability, and a fu
24、tures market spanning periods up to three years. Initially created in 1993 for the Norwegian market only, it has since become the chief financial market for the Nordic power exchange, encompassing transactions in all four countries. It is now jointly owned by Statnett and Svenska Kraftnat, the state
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