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DNV GL identifies key risk factors facing the Nordic power industry through 2025

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Enterprise risk management needed to ensure investments in power assets.
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DNV GL identifies key risk factors facing the Nordic power industry through 2025

DNV GL has today published three new research papers, each discussing a key risk factor facing the Nordic power industry over the next decade. These three papers signal DNV GL’s commitment to the Nordic market whilst highlighting the business and technical insight it offers the power transmission and distribution industry.

DNV GL’s experience in threat mitigations and opportunities for risk management in the Norwegian power sector will be further highlighted when Anders Magnus Løken, Group Leader, Energy Advisory at DNV GL, presents the Norwegian Risk Management Survey today; an industry study by DNV GL and Energi Norge at AchillesLive.

Hans Tormod Hansen, Area Manager for the Scandinavian power market at DNV GL comments: “Changes in regulations and framework conditions, market structure, customer behaviour and expectations are all combining to create a perfect storm of challenges and uncertainty in the market. As we prepare for a tough ten years ahead for the Nordic power industry in terms of major investments, structural changes and stricter regulatory requirements it’s important that the industry embraces this transformation while also minimising risk. DNV GL is ideally positioned to advise, with its extensive experience in risk management and its depth of knowledge of the strategy, systems, processes and competencies that must be in place to help this transition. This whitepaper series is proof of that insight.”

The first paper titled ‘Enterprise Risk Management for DSOs’ introduces the asset management trilemma confronting the Nordic distribution grid with respect to its need for major investment, re-investment and maintenance in the years to come. DNV GL experts discuss how an enterprise risk management methodology can be used to improve asset management processes and lead to better decision-making and business performance. The findings highlight a structured seven-step approach outlining success factors, as well as potential pitfalls, to ensure smooth transitioning and create enhanced asset value.

DNV GL tackles the challenge of meeting demand for sustainability and security in its second paper ‘IT integrations, more than IT’. DNV GL experts propose a supplementary guideline to traditional project methodologies, in order to help decision makers and project managers focus on the organisational, functional and information interoperability layers to identify risks early and record good practice. The guideline can be easily combined with interoperability frameworks from several industries and aims to help project managers to structure challenges and solutions according to these layers more effectively.

In its third paper titled ‘Main risks for DNOs in Norway’s sector restructuring’ DNV GL looks at the various power industry questions that have been raised regarding differences in tariffs, size and number of DNOs, as well as the role of the regional grid, neutrality in multi-utility companies and the need for changes to comply with EU regulations. DNV GL experts address these concerns by analysing the current situation based on two separate reports, one of which, the Norwegian Risk Management Survey published by DNV GL and Energi Norge, identifies the three most important risk areas perceived by the industry.