European electricity markets are becoming increasingly interconnected. Even when reforms are implemented outside the Nordic region, they can influence Nordic electricity prices and market outcomes through cross-border trade. This report explores how selected European market design reforms may affect Nordic electricity markets towards 2035. The analysis examines developments such as capacity mechanisms, the expansion of solar power and wind power, battery deployment, and new trade measures. Using detailed power market modelling, the study assesses how these changes could influence electricity prices, price volatility, trade flows and welfare in the Nordic countries. The results show that policy and market developments in neighbouring countries can have significant spillover effects, highlighting the importance of cross-border coordination in Europe’s energy transition.