Ramboll chosen as consultant for Nordic security of supply, energy prices, and the just transition

A confluence of factors is leading European energy and commodity prices to surge, as demand continues to exceed supplies of natural gas, oil, and coal. Energy annual inflation in Europe is rising, pushing overall inflation to record-high levels. Meanwhile, surging prices of critical raw materials are increasing the cost of technologies enabling the energy transition, with direct implications for manufacturers and developers.

All of which makes the work highly relevant, says Ask T. H. Brüel, Market Director at Ramboll and project owner.

- Everyone from politicians to consumers are concerned about energy prices and security of supply. So, we are happy to be trusted this important assignment and want put all our efforts into proposing mitigation measures at a cross-regional level.

Balancing the trilemma of energy security, affordability, and sustainability

In view of these unprecedented developments, officials of Denmark, Finland, Iceland, Norway, and Sweden have commissioned an analysis to address the Energy Trilemma in a Nordic context – the interlinked challenges in ensuring a secure, affordable, and sustainable energy supply. According to Nordic Energy Research Ramboll is the ideal partner on the project: - Ramboll is ideally equipped to support Nordic Energy Research with this task, Ramboll brings deep insight into the Nordic energy system, risks, short- and long-term challenges regarding security of supply, and expertise related to the just transition, says Marton Leander Vølstad, Adviser at Nordic Energy Research.

Also, Ramboll developed the baseline assessment for the Nordic Council of Ministers’ Vision 2030 of becoming the most sustainable region in the world.

Enhancing emergency preparedness

The new work will be similarly thorough, explains Ask T. H. Brüel:

- The analysis will map drivers and responses to energy system shocks in the Nordic countries, identify risk factors for the energy transition, assess mitigation measures in place, and propose areas where regional co-operation can enhance emergency preparedness.

Findings will be presented at a meeting of energy ministers in late 2022. Policy recommendations will be disseminated via a “Tour of the Nordic Capitals” next year. Nordic Energy Research acts as the contracting partner on behalf of the Nordic Committee of Senior Officials for Energy Policies.

Not only the Nordic countries are leveling up their responses: To alleviate short-term impacts of the crisis, the European Commission proposed the Just Energy Transition Fund and a toolbox for action and support aimed at consumers and industry.