Finland Times

Tuesday, 26 October, 2021
Home BUSINESSPower export to Russia begins today
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Sun, 07 Jun, 2015 12:34:37 AM
FTimes-STT Report, June 7
 
File Photo Lehtikuva.
Finland will start selling electricity to Russia for the first time on Sunday, said Fingrid, the national grid company.
 
“Exports are based on price, and the price of electricity in Finland right now is cheap. Electricity is purchased from the cheapest source,” said Fingrid Planning Director Timo Kaukonen.
 
The regularity of exports, or even the first sale, cannot be anticipated, because the operation is price dependent.
 
“The first time for exports would probably have been during the summer, because of the flooding periods, and therefore, cheaper electricity,” Kaukonen said.
 
File Photo Lehtikuva.
Export of electricity to Russia will be profitable, when the price of electricity is lower in Finland than in Russia.
 
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.
 
The two-way transmission connection will also support the electricity supply security in the St. Petersburg region.
 
Commercial export of electricity to Russia became possible at the end of 2014, when Fingrid and Russian grid-companies signed a two-way electricity commerce agreement. 
 
In the past, the transmission of electricity, 400kV worth, was possible only in one direction, from Russia to Finland.
 
 
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