The FP3 project aims to investigate the future dynamics of electricity prices in the European and Norwegian markets, focusing on the role of hydropower in providing flexibility and maintaining security of supply.

By analyzing price levels and volatility across submarkets (day-ahead, intraday, and balancing markets) and examining the effects of market design and subsidy schemes, the framework programme seeks to understand how hydropower can adapt to increasing renewables and interconnected markets. This research will provide a foundation for optimizing hydropower operations and revenue streams while supporting market stability.