Abstract
This paper applies a stochastic rolling-horizon power market model for Northern Europe to analyse stylized expansions of distinct flexibility types in Norway in 2050. The analysis builds on the openly available EU EnVis-2060 energy transition scenario NECP Essentials, which provides the 2050 demand and installed capacities used as a common baseline. Each flexibility variant is evaluated against this baseline to isolate its system-level effects. The results show how different flexibility mechanisms can address distinct dimensions of variability: Enhanced hydropower flexibility and time-shiftable demand reduce short-term price variability associated with the solar day-night cycle, while elastic demand more effectively mitigates stochastic fluctuations linked to wind power. Expanded Norway-Europe transmission primarily reduces regional differences in both average price levels and price volatility. As such, transmission complements temporal flexibility options. Overall, the findings provide insight into how distinct flexibility types can shape market outcomes in future highly renewable systems.