Fingrid increases readiness due to tightening electricity power balance situation

Fingrid will increase its readiness until further notice as of Thursday afternoon, 4 January 2024. The situation is exceptional; the prolonged cold front has lasted several days and has driven electricity consumption to an unusually high level.

Tomorrow’s high electricity price is an indication of the low supply of electricity on the markets. Tomorrow, on 5 January, the highest hourly price will rise in the evening to EUR 1,900 per MWh during the hour between 7 p.m. and 8 p.m. and the average price of electricity for the day is EUR 890. The high price will likely steer electricity consumption.

Fingrid would like to remind consumers of the importance of demand-side management during the rest of the week and hopes that all users of electricity will take part in the demand-side management, if possible, by timing their electricity consumption to take place outside the evening’s and morning’s peak hours. For example, today, electricity consumption should take place after 10 p.m.

Currently, there is enough electricity. However, the situation is sensitive to unexpected disturbances in the power system, which can cause the situation to change rapidly. Fingrid is monitoring the situation closely and will provide updates as needed.

Further information:

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

Arto Pahkin, Manager, Main Grid Control Centre, Fingrid Oyj, tel. +358 400 756146

The emails are in the format: firstname.lastname@fingrid.fi