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Energy industry: Electricity more expensive

Officials in the energy industry forecast an increase in the price of electricity. They point the finger of blame at a reduction in electricity imports from Russia which have increased the percentage of market energy in Finland’s electricity consumption. One consequence will be bigger power bills for consumers.

Kaksi korkeaa, metallirunkoista sähköpylvästä vierekkäin.
Power lines in the national grid. Image: Fingrid

"The price of electricity will fluctuate even more in the future and when supply decreases tariffs will go up at times," explains Director Pekka Salomaa of the Finnish Energy Industries, a body that gathers statistical data on power consumption in the country.

Imports of Russian electricity have covered a good ten percent of Finland’s power needs. Now this figure is down to about five percent.

“This is probably a permanent change. Imposition of a capacity charge by Russia makes imports even less profitable. At the same time the price of Russian natural gas is being increased from its current low levels to a more European rate,” Salomaa revealed.

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