Regionalizing Norway in LIBEMOD
The EU has large ambitions for its climate policy in 2030 and beyond. This also includes specific targets for the share of renewable energy which demands substantial changes to the energy system, both when it comes to production and transportation of renewable energy. In this project we study how European climate and energy policy may affect the renewable energy production in Norway and the corresponding necessary investments in the grids (domestic grids and interconnectors). In this project we will further develop the energy market model LIBEMOD.
LIBEMOD is an energy multi-market equilibrium model, developed by researcher at Statistics Norway and the Frisch Centre. Its main focus is on the electricity and natural gas markets of Europe, but it also covers global markets for coal and oil. The model distinguishes between model countries – each of 30 European countries – and exogenous countries/regions, the latter group containing all countries in the world outside Europe. In order to focus on the production and transmission of renewable energy in Norway, we will regionalize LIBEMOD for Norway. The regionalization will follow (or can be aggregated to follow) the current spot price areas in Norway.