Strong political support needed for building a Nordic retail market for electricity
15 October 2009
Strong political support needed for building a Nordic retail market for
The Nordic retail market for electricity is on the agenda when the Nordic energy
ministers meet on 27 October. Market integration has already been identified as
an overall target, but the process towards a truly harmonised retail market has
thus far been slow. Fortum fully agrees on the benefits of a further developed
and integrated Nordic retail market and emphasizes the need for strong political
support to enhance the process.
In May this year the Nordic Energy Regulators (NordREG) submitted a report to
the Nordic Council of Ministers emphasising the benefits a harmonised retail
market would have for consumers in the Nordic countries. In the report NordREG
underlines that the customers' position would be strengthened and a greater
variety of product and services would be provided. Fortum fully agrees on the
benefits of a further developed and integrated Nordic retail market and
emphasises the need for a clear political signal to enhance the process.
"A strong signal from the Nordic Council of Ministers would significantly
promote the process. We are happy to participate in a well-focused and aligned
project aiming for a truly Nordic retail market," says Tapio Kuula President and
CEO, Fortum Corporation.
The Nordic electricity market is the benchmark
The Nordic electricity market is acknowledged as one of the most efficient and
advanced worldwide. The wholesale markets are integrated but the retail markets
are still national, even if they have been liberalised for over 10 years.
Today, the national retail markets provide the basic functionalities such as
simple and safe supplier switching, but there is a need for further development
to facilitate speed and quality of customer service. In addition, the retail
markets must also contribute to the climate change mitigation and prepare for
the future challenges. Electric vehicles, small scale local production schemes
and smart homes are examples of means to promote energy efficiency and
sustainability. The retail markets should provide the necessary support and
structure in order to encourage innovation and efficiency. All Nordic countries
face the same challenges and developing the retail market together in a
harmonised manner would bring significant additional advantages.
Mr. Esa Hyvärinen, Vice President, Public Affairs, Fortum Corporation
Telephone: +358 40 826 26 46, e-mail: firstname.lastname@example.org
NordREG's report (uploads a pdf report):
Fortum's position on integrated Nordic retail market for electricity:
Fortum is a leading clean-energy company that provides its customers with electricity, heating and cooling as well as smart solutions to improve resource efficiency. We want to engage our customers and society to join the change for a cleaner world. We employ some 9,000 professionals in the Nordic and Baltic countries, Russia, Poland and India, and 62% of our electricity generation is CO2 free. In 2016, our sales were EUR 3.6 billion. Fortum's share is listed on Nasdaq Helsinki. www.fortum.com