Anticipating robust growth in power consumption in the Nordic countries up to 2030. Our estimates, though conservative, consider challenges like project cancellations, delays due to power and grid access issues, technological/economic obstacles, increased costs, and supply chain disruptions over the past years.
Norway: An expected 36 TWh surge in consumption is on the horizon, driven by hydrogen electrolysis, transport electrification, data centres, and battery production. Remarkably, this increase comes despite limited growth in power supply, as we optimize existing surpluses.
Sweden and Finland: A substantial power consumption boost is projected, with 40 and 22 TWh respectively. This surge can be attributed to hydrogen electrolysis (particularly for emission-free steel and ammonia production), transport electrification, and consumption from data centres, heat pumps, and battery production.
Denmark: The most remarkable increase is anticipated, nearly doubling from 39 to 74 TWh. This surge is driven by hydrogen electrolysis, transport electrification, and consumption from data centres, heat pumps, and electric boilers.
