So far, the impact of the launch of a joint green-certificate (GC) scheme between Norway and Sweden at the beginning of 2012 has been minimal, admits Norwea managing director Øyvind Isachsen.

Depressed GC prices – largely the result of a sustained period of wetness last year that contributed to cheaper-than-normal electricity in Scandinavia – have not helped.

But Isachsen says there is no need for alarm, as Norway’s power sector is “just starting to understand how the system functions.

“It’s