Impacts of the North Atlantic Oscillation on Scandinavian hydropower production and energy markets
Dramatic swings in the North Atlantic oscillation (NAO) during the 1990s motivated the authors to build a statistical model of NAO impacts on hydropower production and energy markets in Scandinavia. Variation in the NAO index is shown to explain 55% of the variance of streamflow in Norway and up to...
Published in: | Water Resources Management |
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Main Authors: | , , , , |
Format: | Article in Journal/Newspaper |
Language: | English |
Published: |
Springer
2005
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Subjects: | |
Online Access: | https://oceanrep.geomar.de/id/eprint/7535/ https://oceanrep.geomar.de/id/eprint/7535/1/209_Cherry_2005_ImpactsOfTheNorthAtlantic_Artzeit_pubid9978.pdf https://oceanrep.geomar.de/id/eprint/7535/3/art_10.1007_s11269-005-3279-z.pdf https://doi.org/10.1007/s11269-005-3279-z |
Summary: | Dramatic swings in the North Atlantic oscillation (NAO) during the 1990s motivated the authors to build a statistical model of NAO impacts on hydropower production and energy markets in Scandinavia. Variation in the NAO index is shown to explain 55% of the variance of streamflow in Norway and up to 30% of the variance in Norway’s hydropower output. It is also possible to identify the influence of NAO anomalies on electricity consumption and prices. Government liberalization allowed a financial market to grow around the international trading of electricity, which in Norway is produced almost entirely from hydropower. The model offers a possible tool for predicting the effects of future NAOmovements on hydropower production and energy prices in Scandinavia. The potential influence of skillful climate prediction is discussed. |
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