Energy

In the Nordic region, cheap, reliable energy is of exceptional importance. Fossil fuels, hydro power and oil and gas have enabled the Nordic economies to remain stable throughout the economic downturn. Nuclear energy is regarded as a cheap, sustainable method of electricity provision (in Finland and Sweden, it provides 28 and 40 per cent respectively of the power) but renewable sources are fast increasing. Hydroelectric power is predominant in Norway and northern Sweden. Norway is also looking at other sources including sea bed tidal power. Wind power supply is increasing across the region, with Denmark leading. Iceland relies chiefly on hydropower and geothermal for power.