Electricity market
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Fingrid makes sure electricity is always available. Clean, reliable and affordable.
13.6.2024
Fingrid makes sure electricity is always available. Clean, reliable and affordable.
Thanks to the Nordic RCC, even more electricity will be transmitted between the Nordic countries without compromising on safety.
A uniform European electricity market based on clean electricity generation requires cross-border connections between countries. In Finland, Fingrid is responsible for developing and maintaining such connections. “Competition and the free movement of electricity across borders will reduce the price of electricity. In the future, no country will be able to constantly generate cheap electricity alone,” says Fingrid’s Senior Vice President Jussi Jyrinsalo.
Fingrid’s innovation work has resulted in a significant increase in the north-to-south electricity transmission capacity. The technology is known as shunt compensation.
The price of electricity transmission on Finland’s main grid is the second-lowest in Europe.
It is a Monday morning, and a call comes in from the main grid control centre. Over the weekend, the Swedish transmission system operator Svenska kraftnät (Svk) began limiting the transmission of electricity from Finland to Central Sweden. I recalled a moment last summer when Svk was forced to limit the transmission of electricity from Norway, leading to confusion in the electricity markets – surely history will not repeat itself on the border between Finland and Sweden…?
Fingrid has developed a quick and cost-efficient solution for increasing the electricity transmission capacity between Northern and Southern Finland. The innovation, which is based on a new application of an existing technology, is a quick, cost-efficient and environmentally friendly way of adding up to 500 megawatts of additional transmission capacity to the grid.
Fingrid and Svenska Kraftnät are working together to design a new electricity transmission link from Messaure in Northern Sweden to Pyhänselkä to the southeast of Oulu in Finland.
On the electricity market, the constraining factor for the transmission grid is the amount of electricity that can be transmitted at any one time. The Flow based calculation method enables transmission capacity usage to be optimised according to demand for electrical energy.
Fingrid and Svenska kraftnät’s joint project to build a third cross-border electricity connection has received a grant of EUR 4.3 million for the technical evaluation phase.
Fingrid Oyj
Läkkisepäntie 21
00620 Helsinki
Tel. 030 395 5267
Fingrid.fi
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Fingrid is Finland’s transmission system operator. We secure reliable electricity cost effectively for our customers and society, and shape the clean, market-oriented power system of the future.