Finnish electricity prices drop to historic low twice in a week
Electricity prices in Finland fell into negative territory twice last week, a historic first resulting in consumers having their bills lowered.
On Wednesday, suppliers were practically giving away electricity as they were hit with an exceptional amount of clean, hydroelectric water. On Sunday, the long-awaited Olkiluoto 3 nuclear power plant was added to the power grid.
Both events led to prices dropping to negative territory, which had a positive lowering effect on consumer bills – a sigh of relief for Finns who this winter faced soaring prices and were asked to adopt energy-saving measures.
“Now there is enough electricity, and it is almost emission-free. So you can feel good about using electricity,” Jukka Ruusunen, the CEO of the country’s grid operator Fingrid, told the Finnish Broadcasting Company YLE, adding that Finland is swiftly progressing towards self-sufficiency.
“We have a very good chance of building on this with industrial investments for the green transition,” Ruusunen added.
(Pekka Vänttinen | EURACTIV.com)
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