FTimes – STT Report, Nov. 08
File Photo – Lehtikuva.
National electricity grid operator, Fingrid announced that electricity export to Russia will be possible from December next.
In a press release, Fingrid president and CEO, Jukka Ruusunen said all technical and contractual issues had been sorted out, and two-way trading can commence in December.
Ruusunen said the electricity trade between Finland and Russia will be determined by market prices. Export of electricity to Russia will be profitable, when the price of electricity is lower in Finland than in Russia, he added.
Ruusunen pointed out that such a situation could arise if a lot of hydro-power is available in the Nordic region and consumption in Finland remains at a low level such as during summer time.
According to the release, the two-way transmission connection will also support the electricity supply security in the St. Petersburg region.
