Norway: Security of Supply in Liberalized Energy Sectors: A New Role for Regulation
This chapter examines how Norway has handled security of supply in its liberalized energy markets. It focuses on the hydropower and gas sectors. It notes that these sectors have followed parallel developments as regards market liberalization. It adds that both sectors have been liberalized pursuant to the EC Directives on the internal energy market. It explains that these sectors have also been subject to national reforms which go further than the derivatives. It clarifies that the security of supply does not depend on one, but several, markets. It notes that an overall perspective of the different markets is required. It distinguishes between commodity markets, resource markets, and transportation markets.
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