Ten Perspectives on Nordic Energy. Final report for the first phase of the Nordic Energy Perspectives project

Nordic Energy Perspectives is an interdisciplinary energy research project which, from a holistic perspective, analyses and creates new insights into the consequences for energy markets and energy systems of the goals and instruments of energy policy in the light of new conditions. The project's aim is to provide better bases for decisions on energy and environmental policy at both national and international levels. It is intended to contribute to constructive dialogue between researchers, politicians, authorities and actors on the energy markets. A first phase of the project has been carried out during Apr 2005 - Sep 2006. This report summarises the most important results. Around fifteen current research issues have been analysed. Some of these issues have been analysed in detail, while others have been studied more generally. This means that we can present a comprehensive flora of results in a number of areas, whereas in regard to other questions the analysis is less deep and the conclusions are not as firmly grounded. We have nonetheless chosen to present the entire range of results in this final report. An objective of Nordic Energy Perspectives has been to create a forum for fact-based discussion and dialogue between decision-makers and other energy actors from different disciplines and different countries. Today this forum is fully active. We are very eager that the forum should survive and that the discussion should continue concerning the themes treated by Nordic Energy Perspectives. Hence, for each of the chapters 1-17 below, we identify the researchers whom the reader can contact for further dialogue. The ten perspectives, which are based on contributions from the whole research group, have the following headlines: Costly early learnings from the first year of EU ETS: Unforeseen price levels hit industries hard; Market based support schemes - do they really work as intended; New decade in the Nordic energy markets; Reduced CO2 emissions and more renewables - are we getting there or not; The interpretation of financial requirements acts as an impediment for environmentally sound investments; Who should invest in infrastructure - private or public investors?; Regulation is not the answer, but framework conditions should promote coordination - need for a visible hand? Increased infrastructure investments due to EU ETS and support schemes for RES; Energy, welfare and industry - a complex link which is difficult for politicians to consider in the decision-making process; 'Fuel' for an energy policy discussion - a possible agenda for a Nordic discussion about energy policy perspectives.