How much electricity does Finland import?

(IEA 2023) Finland is a net importer of electricity, importing about 18-24 TWh of electricity per year during 2018-2022. Thanks to the start of the nuclear reactor Olkiluoto 3 and increasing capacity of renewable generation, Finland´s electricity imports are expected to decrease significantly.

How has the Finnish energy sector changed over the last two years?

Especially, events during the last two years have brought irreversible changes to the Finnish energy sector and its future prospects. Finland’s rapid reduction in the import of Russian fossil fuels, the deployment of a new nuclear reactor, and strong growth in wind generation, just to mention a few examples.

How much electricity does Finland use in the winter?

Does the estimate of peak consumption in the winter (14,400 MW – this figure was estimated on 9 December) take into account the fact that many people in Finland will reduce their electricity consumption in the coming winter? Why is electricity in Finland twice as expensive as in Sweden?

How does Finland deal with rising energy prices?

To mitigate the impact of increasing energy prices, Finland has implemented measures such as reducing retail electricity prices, limiting profits for distribution system operators, exploring energy transition investment programs, and preparing a loan guarantee program to support energy efficiency and renewable heating systems (Fortum 2022).

Does Finland have a nuclear power plant?

Nuclear power is a significant part of Finland’s plans for carbon neutrality, and is the largest source of electricity generation in the country. With the launch of the 1600 MW Olkiluoto 3 reactor, the share of nuclear power is expected to increase to more than 40 % of the country’s electricity generation.

Why does Finland have a high energy demand?

Finland has one of the highest per capita energy demands in the world due to the cold climate, well-developed economy and a robust industrial sector. Finland has made impressive strides in reducing its reliance on fossil fuels by leveraging nuclear power and expanding renewable energy production.