News

18-01-2022
CE advises in acquisition in the Finnish healthcare sector, cleared unconditionally by the FCCA

The Finnish Competition and Consumer Authority unconditionally approves the acquisition of Pohjola Sairaala by Pihlajalinna – Copenhagen Economics supported Pihlajalinna during the review process

On 14 January 2021, the Finnish Competition and Consumer Authority (FCCA) unconditionally cleared Pihlajalinna’s acquisition of Pohjola Sairaala. Pihlajalinna is one of the leading private health care providers in Finland. Pohjola Sairaala, part OP Financial Group, provides primarily orthopaedic and hand surgery services out of its five hospitals in Finland.

Following an in-depth investigation, the FCCA concluded that the acquisition does not result in a significant impediment to effective competition. According to the FCCA’s press release, Pihlajalinna’s acquisition of Pohjola Sairaala, which to date has predominantly provided services internally within OP Financial Group, will bring additional capacity to the market to the benefit of other insurance companies. Further, with regards to self-paid customers, the FCCA examined certain geographic areas in closer detail but did not find the transaction to result in adverse effects on competition in these markets. The FCCA’s full decision will be published in due course.

Copenhagen Economics provided economic support to Pihlajalinna throughout its proceedings with the FCCA.

13-01-2022
NEEM Hub moving forward: phase two to develop solutions in scaling up green mortgages

A part of the existing Energy Efficient Mortgages Initiative supported by Horizon 2020, the Nordic Energy Efficient Mortgage Hub aims to scale-up lending to energy renovations in the Nordics and will publish a blueprint on how to accomplish this which will be implementable in other regions of Europe and, indeed, the world. In striving to increase energy renovations, the NEEM Hub will help achieve the targets of the European Green Deal and contribute to addressing ambitious national climate targets.

The first phase of the NEEM Hub project, the “identification process”, has been focused on establishing a comprehensive list of solutions aimed at reducing the energy efficiency gap, and subsequently determining the net list of solutions and Minimum Viable Products to be developed, in close collaboration with financial institutions.

In addition to the lunch event, we have published two reports to support the work of the NEEM hub. An analysis of the regulatory and supervisory landscape relative to energy efficient mortgages has been made by Luca Bertalot and Jennifer Johnson from the European Mortgage Federation. It was published under the NEEM Hub to provide needed guidance to financial institutions on the compliance and alignment needed due to the regulations imposed to enhance the green agenda. The report can be found here. A second report, analysing the data foundation in the Nordic countries, has recently been published. It details the current state of the supply of digital data available to banks in Sweden, Norway, and Denmark for the purpose of scaling up energy-efficient mortgages. This was overseen by Marianne Haahr from the Green Digital Finance Alliance. The report can be found here.

We will now embark on the second phase of the project, “solution development”, which constitutes the bulk of the work for the NEEM hub, namely developing the solutions and Minimum Viable Products identified in the first phase of the project. Conducted in close collaboration with our partner banks, this next chapter of the NEEM Hub will ultimately make it possible to test our findings in the participating financial institutions.

As Consortium Leaders, Copenhagen Economics would like to extend their profound gratitude to the organisations and individuals that are contributing to the project with such dedication and proactivity.

14-12-2021
New article: Gone with the wind - Foregone revenues in the Danish Thor tender

A competitive tender process for the Thor offshore windfarm was recently concluded in Denmark. The German energy developer RWE was awarded the rights to develop the farm, accepting a contract for differences with what initially seems like an incredible strike price of 0.01 ore/kWh.

What happened in the bidding process, and was the Thor tender really a big success?

Find out more and download the article here.

13-12-2021
New study: Does one size fit all? Impact of Minimum Energy Performance Standards in the revision of the Energy Performance Building Directive

Key factors drive the economic, social and environmental results of measures to support energy renovations.

Energy renovations have sharply declining returns, to the point where they no longer pay for themselves. Aiming for the highest EPC label in energy renovations delivers poor returns for society. Increasing the EPC label from B to A is substantially more costly than raising it from e.g. D to C, while the energy savings in the first case are relatively larger.

The success of energy renovations varies across the EU due to varying climate conditions and varying access to renewable energy. At the moment, not all parts of the EU have equal access to heating based on renewable energy, which implies that the most cost-effective way to achieve decarbonisation of the housing stock is very much affected by local energy systems.

Above all, affordability of housing is essential in the social housing sector.

For further information, please contact Managing Economist Signe Rølmer Vejgaard

energy efficiency
09-12-2021
New study: Data foundation for scaling up energy efficient mortgages in Denmark, Norway and Sweden

Today, the Nordic Energy Efficient Mortgage (NEEM) Hub publishes a report that outlines the current state of the supply of digital data available to banks in Sweden, Norway, and Denmark for the purpose of scaling up energy-efficient mortgages.

The report concludes that the data foundation across all three countries is defined by different degrees of fragmentation. Sweden has the lowest degree of data foundation and Denmark has the largest foundation ready for scaling the necessary financing for energy-efficient retrofits. In Norway, the data infrastructure is the second-most developed allowing for testing of developed solutions within NEEM in the coming year.

Learn more about the topic here.