Fingrid Newsletter 4/2024

4/2024

FINGRID

NEWSLETTER

Updated Prospects for Electricity Production and Consumption – Long-term Prospects Unchanged

Fingrid has updated its electricity forecasts, highlighting Finland's strong position for green transition investments and rapid advancements in district heating and data centers. By 2030, electricity production and consumption could be 50% higher, and it could double by 2035, driven by societal electrification and industrial exports.

Fingrid's final report refines the preliminary connection possibilities for offshore wind power

Seven potential connection points for up to 9 gigawatts of offshore wind power have been identified in mainland Finland for the 2030s, located on the west coast and in Inkoo, with additional points in Kokkola and Raahe if local electricity consumption increases significantly. This updated report, based on stakeholder consultation and additional analyses, refines the preliminary connection points for offshore wind power at the substation level.

Impact Assessment supports the introduction of the connection fee reform

The impact assessment report concludes that Fingrid's proposed connection fee reform will not jeopardize Finland's competitiveness or the clean transition, supports the reform by showing it would enable new connections with fewer main grid investments, maintain Finland as a single bidding zone, keep transmission tariffs competitive, and reduce the need for new grid construction.

Fingrid issues a EUR 500 million green bond

Fingrid Oyj issued a 500 million euro green bond to support green investments in Finland, attracting international interest and expanding its debt investor base.

Fingrid Group – Management’s Review 1 January–30 September 2024

Fingrid follows a six-month reporting period and publishes Management’s Reviews for the first three and nine months of the year. The latest review shows high transmission reliability, increased electricity consumption, significant investments, and a strong financial position.

The 2024 occupational safety campaign did activate proactive safety work

Fingrid's 2024 "Triple jump to zero" safety campaign for service providers, which aimed to raise awareness about occupational safety and achieve zero accidents, ended in November with a record number of safety meetings, job risk assessments, and safety observations.

ELECTRICITY MARKET

Fingrid to trade on the Intraday markets to reduce polarity reversals of interconnectors

Fingrid will trade on the Intraday markets to reduce the number of flow direction changes on HVDC interconnectors like Fenno-Skan, mitigating wear and tear.

The new balance service fees into effect on January 1, 2025

Fingrid will raise balance service fees for balance responsible parties from 1 January 2025 due to rising electricity system management costs.

National mFRR capacity market has been expanded from national to Nordic

Nordic TSOs have combined their national mFRR capacity markets into a Nordic mFRR capacity market.

FINGRID MAGAZINE

Fingrid Magazine 3/2024 has been published

The third Fingrid customer magazine of the year focuses on the transformation of the electricity market, highlighting the need for main grid development, rising grid management costs, and encouraging companies to participate in the electricity market.

Companies are paid for flexibility in the reserve markets

Lidl Finland and Lumme Energia sell their capacity for flexible electricity consumption to Fingrid, helping to balance the power system and offering business opportunities for companies to earn money through flexibility.

What is a transmission management agreement?

Fingrid's new transmission management agreement, suitable for flexible electricity production or consumption of at least 10 megawatts, sets out terms in advance to manage transmissions under difficult conditions and ensure system security.

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