Nordic Energy Co-operation: Strong today – stronger tomorrow

Jorma Ollila31.10.2017

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Background2015: Energy Ministers decided to carry out a strategic review of Nordic co-operation on energy.

The remit: Present 10–15 proposals how to strengthen co-operation over 5–10 years when moving towards green transition.

Based on: The Paris Agreement, EU energy union and national energy strategies.

Input to debate on the future of energy co-operation. Ultimate decisions will be taken by energy ministers and the governments.

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Next decade most challenging of the green transition.

Nordic countries are strong today, but competition increasing rapidly. Major players investing massively.

Key question: Can we afford not to co-operate?

Purpose and main messages

Key proposal - a new visionTime to raise ambitions to a new level.

Target: To create the smartest energy systems in the world moving towards the low-carbon green economy.

The energy transition is underway – the risk is that jobs will be created elsewhere if we cannot meet the competition.

13 proposals on how to bring the vision to life.

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Nordic peer reviews

The Nordic countries are interdependent. Policies in one country have a direct impact on neighbouring countries.

The Nordic Voice

The Nordic Region is among the 12 largest economies in the world.

A strong collective voice - should be strengthened and used more strategically.

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Nordic researchMultiply the effect of current Nordic research activities through mapping and streamlining.

Vision for research

The mapping should lead to a vision for the Nordic energy research co-operation.

Mission Innovation

Use MI to reinforce Nordic positions of strengthand use the whole nordic area as a testbed

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Nordic research programme

Size matters - combine Nordic and national funds, allocate €67 million for a Nordic research programme.

Nordic PhD programme

Set up a Nordic PhD programme in energy and transform testbeds into new positions of strength.

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Investment environmentConsider the impact of differences in the investment environment in the Region. Optimise the Nordic investment environment.

Development AidCreate a link from national development assistance to Nordic energy co-operation.

Export strategy Position Nordic energy solutions globally, leading to a Nordic export strategy.

Electricity market needs a new vision

Changes to the energy markets highlight the need for renewed political vision.

Energy-only marketHere and now the energy-only market is the best alternative.

Electricity ForumTo ensure the right decisions are taken at the right time.

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Thank you!

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Jorma Ollila