Russia suspends electricity supply to Finland

Finland’s nationwide grid operator Oyj also said in a statement issued on Friday that RAO Nordic Oy will suspend the import of electricity to Finland on Saturday at 1:00 local .
“According to RAO Nordic, direct or bilateral sales of electricity imported from will be suspended for the time being due to problems in receiving payments for electricity sold on the market,” Fingrid said.
“RAO Nordic Oy has been importing electricity from Russia to Finland and selling it to the exchange for several years. “, the company said.
“Unfortunately, due to the current lack of cash flow, RAO Nordic will not be able to pay for imported electricity from Russia. Therefore, we will have to suspend the import of electricity from May 14,” they added.
However, RAO Nordic Oy has confirmed that is compensating for the lack of electricity imports from Russia. In addition, more electricity is produced in Finland, reports TASS.
“Finland’s self-sufficiency in electricity production is constantly improving. In particular, Finland’s power production is growing every year. This year alone, more than 2,000 megawatts of new wind power is expected to enter the grid. Finland is expected to become self-sufficient in electricity in 2023,” Fingrid said.
At the same time, RAO Nordic Oy believes that the situation will improve rapidly and that electricity trade with Russia will recover soon enough.

According to , most energy products were imported from Russia, about 52 per cent of the value of total energy imports. The largest of the energy products was crude oil imports, of which Russia accounted for 80 percent in 2021.
The value of imports more than doubled in 2021, although the volume remained roughly unchanged from the previous year.
The value of electricity imports almost tripled, although only 12.5 per cent more electricity was imported than in the previous year.
The value of energy exports increased by 17 per cent in 2021. Most, 25 per cent, of all energy products were exported to Sweden.
Petroleum products accounted for 83.5% of energy exports by value.

In 2020, electricity production in Finland was 66.6 TWh, of which 34.7 TWh was generated from sources. This corresponds to 52 percent of Finland’s electricity production.

– HT

Source: The Nordic Page

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