Transmission system operators of the Nordic and Baltic countries have jointly conducted an analysis of the adequacy of electricity supply resources in the region for the coming winter.
According to the report, the coming winter will be one of the most challenging in recent years due to the unfavourable conditions in the European energy markets. The war in Ukraine is affecting the electricity, gas and coal markets, as energy imports from Russia have been reduced or stopped due to sanctions imposed by European Union Member States, while water storage in European hydroelectric power plant reservoirs is lower than usual before the winter season as a result of the dry summer.
The total power supply capacity for the upcoming winter in the region is sufficient, however, the capacity reserve is small and there are many uncertainties. The analysis does not show the need to limit consumption, however, such a possibility is not excluded. Therefore, transmission system operators inform the public and prepare an action plan for such a scenario as well. Supply restrictions could be implemented in case of extreme necessity.
In addition, regardless of the sufficiency of electricity supply capacities in winter, high electricity prices are expected because energy supplies are limited and uncertainty in energy markets is high. Therefore, it is useful for consumers to analyse and reduce their consumption during periods of high prices, which also improves the adequacy of electricity supply capacities.