Nordics power market outlook to 2050: Q3 2022

This report presents our Q3 2022 long-term hourly outlook for the Nordic power markets of Denmark, Finland, Norway, and Sweden. This market report and the accompanying datasets – with balancing area detail – provide projections to 2050, commenting on market trends and the changing dynamics of price formation. The outlook considers the significant upheaval in power markets experienced in 2022, including high energy costs, widespread drought across Europe, and emerging energy policy responses to the war in Ukraine. This update also incorporates Wood Mackenzie’s latest (Q3 2022) commodity price forecasts. The attached report includes capacity data, supply-demand analysis, market prices, and capture prices. To explore the sensitivities of renewable capture prices we present an assessment of outcomes under a range of weather conditions. Annual summary and granular hourly datasets by market and balancing area are provided in the data files attached to this report.