Electricity trading with Russia will suspend – no threat to the sufficiency of electricity in Finland
RAO Nordic Oy, a subsidiary of the Russian entity Inter RAO, which trades electricity over the 400 kV interconnectors, will suspend imports of electricity to Finland at 1 am on Saturday 14 May 2022. According to RAO Nordic, further direct or bilateral sales of electricity imported from Russia will be halted until further notice due to problems in receiving payments for electricity sold on the market.
According to Fingrid, the Finnish transmission system operator, the adequacy of electricity in Finland is not under threat. In recent times, imported electricity from Russia has covered approximately ten per cent of Finland’s total consumption.
“The lack of electricity import from Russia will be compensated by importing more electricity from Sweden and by generating more electricity in Finland,” says Reima Päivinen, Senior Vice President of Power System Operations at Fingrid.
Finland soon to be self-sufficient
Finland’s self-sufficiency in electricity generation is constantly improving. In particular, the amount of Finnish wind power generation is increasing every year. This year alone, an additional 2000 megawatts of new wind power is expected to come online. Finland is expected to become self-sufficient in electrical energy in 2023.
Read RAO Nordic’s market message information and net pages.
Further information: Reima Päivinen, Senior Vice President, Fingrid Oyj, tel. +358 40 5562 662