and Technology (NTNU) and it constitutes the completion of the MSc programme Energy and Environmental Engineering. The thesis was supervised by Associate Professor Ümit Cali and co-supervised by Professor Magnus Korpås, and concluded during the spring semester of 2021.The thesis was done in collaboration with Statnett, who provided exiting topic and research discussions that helped determine the scope of the thesis. Additionally, good observations and local system data were provided by Nordkraft. As such, there are several persons to be acknowledged for their assistance with this thesis.First of all, I would like to express my deep gratitude to my supervisor Ümit Cali for his strong commitment and interest in both this thesis and my experience of the process being as good and educational as possible. I have no doubt that his knowledge and guidance have improved the resulting thesis and my learning outcome. I would also like to thank my co-supervisor Magnus Korpås for excellent discussions and suggestions on the thesis topic. I would likewise express my gratitude to Associate Professor Hossein Farahmand for providing superior help and literature for my inquiries throughout the semester. In addition, I would like to thank PhD candidate Marthe Fogstad Dynge for great academic input and advice on the practicalities connected to writing a master thesis. Her sharing of her own experiences has undoubtedly helped facilitate this thesis. My gratitude also goes to Gjermund Saetermo and Ane Meisingset Elgsem from Statnett, who contributed with valuable insight into the power system, as well as inspiration for the determination of the thesis objective. Additionally, I would like to thank Tore Schjelderup and Matthew Homola from Nordkraft for providing relevant data and good advice regarding the studied area. I would also like to thank my friends and family for their encouragement throughout the whole process. Among these I would like to mention and thank my parents for their unconditional support and patience, always showing interest and providing motivation during ups and downs. A special thanks also to Hilde Kiernan for thorough proofreading of a thesis far outside her scope of interest. And last but not least, I would like to express my gratitude to Jonas Sjong Forfot for invaluable support and collaboration, both professionally and personally, during our time as students.