The Nordic countries have a common vision of becoming the most sustainable and integrated region in the world. An inclusive and consumer-oriented electricity market is essential to realising this.
The green transition involves the large-scale electrification of Nordic societies which is expected to lead to significant changes in both electricity consumption and production. The increase in electricity consumption will be seen in the industry as well as with end-consumers. In addition, geopolitical risk and other factors have recently led to a surge in energy and commodity prices and exposed the need for more resilient and flexible energy markets and increased consumer protection.
To contribute with knowledge-based evidence to the discussion Nordic Energy Research and the Electricity Markets Group (a working group under the Nordic Council of Ministers) has commissioned this report that examines recent developments and challenges within the electricity retail markets across the Nordic region. This collaborative effort aims to address consumer concerns in response to the recent energy price crises in an informed and coordinated manner.
This report emphasises the significance of cross-country collaboration and knowledge sharing while at the same time highlighting the need for further development of the Nordic electricity market, particularly in the retail market's design and functionality. While encountering similar challenges, each Nordic nation has adopted unique approaches such as for example the Swedish public complaints list. By leveraging shared resources and experiences, the report suggests that mutual learning can lead to more effective solutions, ultimately enhancing the success of the region's energy transition efforts.
With the Nordic 2030 vision in mind, fostering trust and acceptance within the electricity retail markets is crucial. Public acceptance is imperative for realising the ambitious goal of electrifying Nordic societies and advancing the transition towards sustainability. This report gives insights as to how the development of our electricity retail market can help to achieve that, and I hope readers will find it as interesting as I did.
Klaus Skytte
CEO, Nordic Energy Research