The Nordic countries generally have a stable and secure supply of energy and they are well on their way towards a sustainable transition of the energy sector. Close Nordic energy co-operation has contributed to this strong position; however, this does not mean that we can rest on our laurels. The Nordic countries still face challenges when it comes to energy, and further transformation will be necessary if we are to meet the ambitious climate goals and ensure high security of supply. At the same time, focus is also placed on the opportunities of Nordic companies to develop Nordic positions of strength at a time in which all of the world’s nations must undergo an energy transition.
The Nordic Region is stronger when we stand together. This is especially true from an outward-looking perspective, given that the current geopolitical situation has once more underscored the value to the Nordic countries of strong regional cohesion, and it is no less true in relation to Nordic energy systems, which are closely linked in the majority of the Nordic countries. This means that energy policy measures in one country also have an impact in the other countries. Hence co-operation around common initiatives will lead to an energy transition that is more financially and socially sustainable than what the countries could achieve on their own.
Nordic energy policy co-operation seeks to balance the so-called trilemma of energy policy. The aim is to ensure a transformation of our energy system that considers the environment and climate while also safeguarding the high security of supply that the Nordic countries enjoy and keeping energy affordable both for citizens and for businesses.
All of the Nordic countries are in the process of further electrifying their societies as a part of the sustainable transition. Work is being undertaken to plan, finance and implement a significant expansion of the national energy systems’ production capacity within fossil-free energy, including renewables, and of the electricity transmission grid, in order to enable greater electrification while also ensuring that the Nordic Region in 2030 will have the most competitive, innovative and consumer-oriented energy market.
Sustainable energy and its civil works and infrastructure – such as wind turbines, for example – can be further harmonised with nature and biodiversity to a greater extent. At the same time, the energy transition must also be implemented in such a way that ensures public acceptance of and good will towards the large infrastructure expansions that will be needed, including the deployment of turbines and transmission lines. Increased efforts to promote energy savings and efficiency improvements, as well as flexibility in consumption, will also contribute towards better security of supply.