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Steinar Bysveen - Towards the Internal Energy Market in 2014 - Pan-European vs. Nordic
 

Steinar Bysveen - Towards the Internal Energy Market in 2014 - Pan-European vs. Nordic

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Presentation held at "Norges energidager 2013", an annual event in Oslo, Norway, hosted by The Norwegian Water Resources and Energy Directorate (NVE).

Presentation held at "Norges energidager 2013", an annual event in Oslo, Norway, hosted by The Norwegian Water Resources and Energy Directorate (NVE).

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    Steinar Bysveen - Towards the Internal Energy Market in 2014 - Pan-European vs. Nordic Steinar Bysveen - Towards the Internal Energy Market in 2014 - Pan-European vs. Nordic Presentation Transcript

    • TOWARDS THE INTERNAL ENERGY MARKET IN 2014 – PANEUROPEAN VS. NORDIC LARGE PRODUCER PERSPECTIVE Steinar Bysveen, EVP Statkraft Energidagene 2013
    • Value of international trade 2
    • An efficient internal energy market in 2014…  EU's stated goal is to have an efficient internal energy market in 2014, and many initiatives have been taken - 3 "Electricity market directive" 1,2 & 3 Market Coupling Network codes Establishment of ACER/ENTSO-E Unbundling of TSOs Etc.
    • …however some forces work in the other direction   National renewable subsidy schemes Capacity mechanisms - High RES + flat demand + low CO2 leads to - A need to decommission existing thermal plant, but with consequential worries over security of supply ("Missing money")  National capacity remuneration mechanisms across Europe  Etc. 4 Capacity remuneration Renewable subsidies Unintended consequences (high coal burn, no investment signal from the wholesale market etc) leads to further intervention CO2 market Energy efficiency
    • Example: Capacity mechanisms – EU vs National UK: Developing auction model; Detailed design proposal published June 2013, first auction in 2014 EU calling for coordination: “If mechanisms are not well designed, set up prematurely or without proper coordination at EU level, they may be counterproductive.” IR: Capacity payments in place since 2005 NO, SE & FI: Strategic reserve (if security of supply is at stake) DE: “Stillegungsverbot” to be replaced by capacity market by end 2017 FR: Capacity obligation model decided and now being designed BE: Financial support for new CCGTs proposed IT: Capacity market to be implemented in 2017 ES: Capacity payments. 5
    • From Statkraft's perspective  There is considerable value in having a trans-national market with predictable framework conditions - Investor confidence gives efficient investment and competitive prices  Capacity markets are coming – and are needed in some markets - They must be market-wide, allowing for competition between all capacity providers. - Transmission interconnectors are the most cost-effective solution to safeguard reliability of supply, hence need to ensure that they are also incentivised  6 The EU ETS should be strengthened as the most efficient and effective way of furthering the de-carbonisation of Europe
    • THANK YOU www.statkraft.com