The Impact of Emissions Trading on the Price of Electricity in Nord Pool : Market Power and Price Determination in the Nordic Electricity Market

The objective of this thesis is to find out how dominant firms in a liberalised electricity market will react when they face an increase in the level of costs due to emissions trading, and how this will effect the price of electricity. The Nordic electricity market is chosen as the setting in which to examine the question, since recent studies on the subject suggest that interaction between electricity markets and emissions trading is very much dependent on conditions specific to each market area. There is reason to believe that imperfect competition prevails in the Nordic market, thus the issue is approached through the theory of oligopolistic competition. The generation capacity available at the market, marginal cost of electricity production and seasonal levels of demand form the data based on which the dominant firms are modelled using the Cournot model of competition. The calculations are made for two levels of demand, high and low, and with several values of demand elasticity. The producers are first modelled under no carbon costs and then by adding the cost of carbon dioxide at 20€/t to those technologies subject to carbon regulation. In all cases the situation under perfect competition is determined as a comparison point for the results of the Cournot game. The results imply that the potential for market power does exist on the Nordic market, but the possibility for exercising market power depends on the demand level. In season of high demand the dominant firms may raise the price significantly above competitive levels, and the situation is aggravated when the cost of carbon dioixide is accounted for. Under low demand leves there is no difference between perfect and imperfect competition. The results are highly dependent on the price elasticity of demand.

Le Grand Tour Du reste de l’Europe jusqu’à la Laponie – et retour

Rencontre entre le Sud et le Nord Depuis des siècles, les pays méditerranéens ont entretenu des relations actives avec le Nord de l’Europe. Les regions du Nord ont été conquises et converties, manipulées et colonisées, mais aussi intégrées dans les réseaux commerciaux, scientifi ques, culturels et touristiques. Les voyageurs du Sud de l’Europe ont peu à peu découvert les regions plurielles du Nord de la Finlande, de la Suède, de la Norvège et de la presqu’île de Kola. L’attraction focntionnait aussi dans l’autre sens. Pour les gens du Nord, scientifi ques ou artistes, le Sud de l’Europe constituait une destination aussi exotique aue la Laponie pour ceux du Sud. Dans ce recueil, nous proposons dix points de vue sur ces échanges et réseaux entre la Sud et le Nord. Le premier chapitre présente Tornio, connue très tôt comme la porte de la Laponie, les premières relations scientifi ques entre le Nord et le Sud, ainsi que les exhibitions de Samis dans les métropoles européennes. Le deuxième chapitre propose une analyse des experiences et des impressions de voyageurs italiens, espagnols et français. Le dernier chapitre est consacré aux voyages d’artistes et écrivains fi nlandais en France, principalement à Paris. Ces rencontres entre le Sud et le Nord qui participèrent à la remise en cause, la relativisation et la construction des identities nationals et ethniques, permirent aussi de créer une conscience européenne commune.

META-NORD: Towards Sharing of Language Resources in Nordic and Baltic Countries

This paper introduces the META-NORD project which develops Nordic and Baltic part of the European open language resource infrastructure. META-NORD works on assembling, linking across languages, and making widely available the basic language resources used by developers, professionals and researchers to build specific products and applications. The goals of the project, overall approach and specific focus lines on wordnets, terminology resources and treebanks are described. Moreover, results achieved in first five months of the project, i.e. language whitepapers, metadata specification and IPR, are presented.