Call for energy conservation tomorrow as Finland faces severe cold

By admin On Jan 5, 2024

Tomorrow’s electricity price photographed on a phone in Turku on January 4, 2024. The price will rise to a maximum of 235 cents per kilowatt-hour. LEHTIKUVA

As Finland grapples with an unusually prolonged spell of freezing temperatures, the nation’s electricity consumption has surged to extraordinary levels. This spike in demand has led to a scarcity in the power market, reflected in the exceptionally high electricity prices expected on January 5, 2024. The average price for the day is forecasted to reach 890 euros per megawatt-hour, with peak prices between 7 pm and 8 pm soaring to nearly 1,900 euros/MWh.

Jukka Leskelä, CEO of Energiateollisuus ry, the Finnish Energy Industry Association, describes the situation as extreme and challenging. “The question has often been raised about how we would cope with a particularly harsh cold spell. So far, we have managed well. But now, the most crucial thing is to ensure that there is enough electricity for everyone tomorrow,” Leskelä asserts.

Reflecting on last year’s successful ‘One Degree Down’ campaign, where Finns united to conserve energy, Leskelä emphasizes the need for a similar collective effort in the current situation.

Fingrid, the national electricity transmission grid operator, has already heightened its readiness due to the strained power situation and is appealing to consumers to utilize flexibility in their electricity use and to shift consumption away from the most critical hours.

Leskelä highlights that electricity imports from Sweden and Estonia are maximized, noting that imports from Russia ceased in May 2022. “Currently, Finland’s nuclear power is operating at full capacity, and there is a good availability of hydroelectric power,” he explains.

However, Leskelä points out that the market is facing a shortage of fuel-powered power plants due to several malfunctioning incidents, contributing to the current challenging situation. The call for electricity conservation comes as a response to these unprecedented market conditions, urging Finnish households and businesses to play their part in ensuring a stable power supply during this extreme weather episode.

Source: www.helsinkitimes.fi