24.11.2023 16:01
Current News, Press Releases, Electricity Market

Electricity market disruption over, production and consumption in balance

An electricity market participant caused a situation that threatened the stability of the Finnish electricity system on Friday 24 November by making an incorrect offer to sell electricity.

On Thursday, the company sold a large amount of electricity to the Nord Pool power exchange for Friday with a sales offer that displaced a large amount of other generation offered to the market. Fingrid hoped that in the exceptional situation power producers would remain active and stay on the market to balance the missing production and thereby maintain system stability.

"The reaction of electricity producers was as expected and generation capacity has been very readily available in Finland and neighbouring countries. Due to active intraday trading on Friday, generation and consumption have been well balanced and the electricity system in our control room has been used almost as normal on a weekday. Power adequacy looks good for the whole of Friday," says Tuomas Rauhala, Director at Fingrid.

Due to the exceptional situation, electricity has been at a record low price for consumers using exchange electricity on Friday. Consumption has been slightly above normal on Friday. Towards the evening, electricity use will rise well above normal weekday evening levels, but this will have no particular impact on the operation of the electricity system.

Additional information:

Tuomas Rauhala, Senior Vice President, Fingrid Oyj, tel. +358 40 506 4695