Chapter 10: Strengths and weaknesses of the Nordic market model
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The Nordic power market comprises the national electricity markets of Norway, Sweden, Finland, Denmark and, more recently, the Baltic States. It ischaracterisedby relatively low market pricesand high shares of low-carbon generation, foremosthydropower, but alsonuclearpower andincreasing sharesof wind power.The Nordic power market's unique multi-national architecture and governance are both its strengths and its weaknesses. There are clear benefits from poolinglow-carbontechnologies across borders, having one Nordic wholesale pricing system,and being under one regulatory body. However, a strong coordination between countriesandneighbouringsystem operators is required, especially with regards tocross-border trading, balancing, and congestion management.

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