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A N N U A L    R E P O R T  2 0 2 3

Finland beginning new electrification leap

The key themes for 2023 were transmission reliability, security of supply and electricity market operations. The system security of the main grid stayed at a high level all year and in terms of the availability of electricity the year was successful. The development of the grid proceeded as planned with more than 100 investment projects of various sizes. The electricity market returned to a new normal after an exceptional year.

Fingrid in figures 2023

Transmission lines
km
Substations
Electricity transmission reliability rate
%
Electricity transmitted in the main grid
TWh
Electricity transmitted in the main grid
%
of electricity transmission in Finland
Investments in the main grid
M€
Customer recommendation
NPS
Fingrid employees’ promoter score
eNPS

Working for a modern energy system

Fingrid develops and operates the grid to meet the needs of customers and society. During the year, 1 920 MW of renewable energy was connected to the grid. The grid development plan was updated during the year 2023 and includes 6 100 km of new transmission lines and 128 substation projects. The plan pays particular attention to the responsible development of the grid. 

Fingrid’s Corporate Responsibility and Sustainable Development in figures 2023

Renewable energy was connected to the grid
1920
megawatts
Finland's
22.
largest corporate tax payer
Lost time injury frequency (LTIF)
7.2
per million worked hours
Material recycling rate at Fingrid worksite
78 %

Work for society continues

Asta Sihvonen-Punkka continues the work of Jukka Ruusunen, who retired in December 2023. “We want to continue to be the TSO that provides the best service to customers and simultaneously promotes Finland’s competitiveness.The transition towards clean energy production creates opportunities to increase investments in Finland and, as a result, boost employment and secure people’s well-being.”

Work for society continues
EU recognition for cross-border interconnection projects
EU recognition for cross-border interconnection projects
Fingrid’s three cross-border transmission line projects have been named to the European Commission’s list of Projects of Common Interest (PCI). The PCI status makes it easier to…
The 15-minute imbalance settlement period responds to the transformation of the energy system
The 15-minute imbalance settlement period responds to the transformation of the energy system
The transition to a 15-minute trading and imbalance settlement period took place in phases, beginning in May 2023.
Finland has good conditions to develop into a pioneer in the hydrogen economy
Finland has good conditions to develop into a pioneer in the hydrogen economy
The hydrogen economy represents a great opportunity for Finland, driven by clean electricity production, the rapid growth of wind power, and a reliable main grid.
Main grid development plan strengthens Finland’s competitiveness
Main grid development plan strengthens Finland’s competitiveness
The main grid development plan is published every two years and presents the main grid’s development needs and planned investments for the next ten years. The updated development…