Five solutions for the European energy reform
Sponsored by
LUT University’s researchers outline ways to develop the European and Finnish energy systems. They present five key points to decision-makers.
- European industry is likely to relocate to the Nordic countries
Society as a whole is on the verge of a transformation. European industry will be forced to relocate to areas where electricity is less costly. Therefore, predicts gazes are likely to turn to Finland and the other Nordic countries.
”The relocation of European industry is already under way. Industry is shifting from areas with inexpensive natural gas to countries where renewable electricity is produced at a low cost. Society is electrifying on a large scale, and the change requires three to four times the amount of electricity currently available,” Laaksonen explains.
The sparsely populated Finland is at the winning end of Europe’s industrial relocation.
”The competitive edge of Finland and the other Nordics is that we have vast uninhabited land areas where new production could be built at a low cost. The rest of Europe has little room left for new development,” Laaksonen points out.
The importance of Finland and other Nordic countries will grow significantly in the future. In terms of geopolitics, this will mean that Finland’s security and protecting the country’s eastern boarder will become increasingly important to all of Europe.
Read the other four solutions for the future of the European energy system: