The Future of Power: Long-Term Drivers and Price Outlooks to 2050

Key Investment Themes

• AI and Data Centers: How hyperscale buildouts could create new baseload demand centers and reshape long-term electricity price trajectories.
• Nordic Advantage: Why abundant low-cost renewables and robust interconnections make the Nordics an attractive destination for industrial expansion and green investment.
• Cross-Border Dynamics: How European interconnections and policy-driven trade flows will affect Nordic price spreads and capture rates.
• Technology Economics: Updated LRMCs for wind, solar, nuclear, hydro, and hydrogen-fired generation, and which assets appear bankable under market conditions alone.
• Policy & Subsidies: The financial implications of Europe’s renewed nuclear push and the rising fiscal cost of CfD-style support schemes.
• Renewable Constraints: How local opposition, grid limitations, and permitting risks could delay new onshore wind and solar capacity, driving long-term price divergence.
• Flexibility & Storage Value: Where increasing volatility creates new value opportunities for storage and balancing investments.
• Scenario Outlooks: How varying CO₂, fuel, and policy pathways could reshape profitability, valuation, and risk across Europe’s power mix.