Still scope for more consolidation: Helsinki based Gerard O'Dwyer provides a round up of developments in the Nordic power sector

Modern Power Systems, March, 2004 by Gerard O'Dwyer

The Nordic power market has undergone mammoth structural changes since the 1990s when Finland became the first state in this energy-intensive and highly industrialised region to deregulate and open up to foreign participation.

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Deregulation in Finland was followed by power market liberalisation in Sweden and Norway creating an ideal platform for the creation of Nord Pool, the pan-Nordic energy exchange. The tempo of change in Denmark, meanwhile, failed to keep pace with rapid developments in neighbouring Nordic markets and continued to proceed at a slower pace.

The buzz words on the lips of all Nordic utility CEOs at the onset of the liberalisation adventure were "restructuring" and "consolidation". A wave of national mergers...