Finland has the second-lowest transmission tariffs in Europe
According to a recent study, Finland’s main grid offers the second-lowest prices for electricity transmission in Europe. The European Network of Transmission System Operators for Electricity (ENTSO-E) compared electricity transmission in 36 countries. Nineteen of the countries are EU/EEA countries comparable with Finland, with large geographic areas and main grids operating at various voltages. The cheapest of these are Slovenia, Finland and Norway.
Fingrid’s value promise to its customers is to ensure that its services are among the least expensive in Europe. In addition to low pricing, Fingrid has been able to ensure a reliable, uninterrupted supply of electricity to its customers and maintain a single price area in Finland.
The energy revolution calls for significant investments in every country, and this is also revealed by ENTSO-E’s study. The tariffs in the countries included in the comparison rose by an average of 7% from 2019 to 2020. By operating cost-efficiently, Fingrid has succeeded in keeping its tariffs low, though the transformation of the power system has substantially increased the need for investments in the main grid in Finland. Fingrid has been able to reduce its charges by more than ten per cent since 2017.
Fingrid has reached these results through long-term development and by seeking cost-efficient operating models and continuously improving productivity. An example of this is the investment in real-time status monitoring of the transmission grid, which enables need-based condition management. The company has participated in international efficiency comparisons, and it regularly ranks among the top in its field.
‘We strive to keep our tariffs low by European standards while meeting society’s needs for electricity. This is a tough challenge, and it requires continuous development. Our guiding principle is to seek solutions that work in Finland’s overall interests,’ says Jussi Jyrinsalo, Senior Vice President in charge of customer relationships and grid planning.
Further information:
Jussi Jyrinsalo, Senior Vice President, Transmission System Services and Grid Planning, tel. +358 30 395 5118. Email addresses are in the form firstname.lastname@fingrid.fi
Transmission tariffs in Europe
