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40$/b-150TO2 68$/b-150CO2 96$/b-150CO2 40$/b-300TO2 68$/b-300TO2 96$/b-300TO2

FIGURE 6.17 Net revenue from electricity exchange for Ref 2030 and IDA 2030 under differ ent fuel prices, CO2 emission trading prices, and different hydro power circumstances: wet, nor mal, and dry years, which are determined by the hydropower reservoirs of the Nordic electricity supply system.

A comparison of the reference Ref 2030 and the IDA 2030 has been made by calculating the average net revenues during a period of years in which the following conditions occur:

• Wet, normal, and dry years appear in the ratio 3:3:1.

• Low, medium, and high fuel prices appear in the ratio 3:4:3.

• Low and high CO2 emission trading prices appear in the ratio 1:1.

Based on such ratios, the average net revenues of the IDA 2030 system are 585 million DKK/year compared to 542 million DKK/year of the Ref 2030. Based on such an analysis, it is only fair to say that the two systems can benefit equally from the exchange of electricity on the Nord Pool market. However, compared to the total annual cost of 60 to 80 billion, the net revenue gained from the exchange of electricity is only marginal. The important economic benefits come from the fuel savings achieved by changing the system from the Ref 2030 to the IDA 2030.

To achieve a 100 percent renewable energy supply, the following additional initiatives were proposed by the steering committee, thus extending the IDA 2030 energy system and creating the IDA 2050 system:

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