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Finland energy report

Finland energy report
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Format
4 files (PDF report, 3 Excel files)
Pages
63 (Report only)
Delivery
Immediate by e-mail
Table of Contents
  • GENERAL OVERVIEW
  • ENERGY AND CLIMATE POLICY FRAMEWORK
  • ENERGY COMPANIES
  • ENERGY SUPPLY AND DEMAND
  • ENERGY USE AND PRICE BY SECTOR
  • ISSUES AND PROSPECTS
  • STATISTICS
  • ABBREVIATIONS
  • GLOSSARY

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1 490 €

Overview

Finland’s energy and climate strategy prioritises carbon neutrality by 2035, with ambitious renewables expansion, nuclear reliance, and coal phase-out, supported by market liberalisation, cross-border energy trade, and innovative low-carbon solutions.

Get more details on the table of contents and data files, as well as the list of graphs and tables by browsing the tabs below.

Highlights

  • Finland aims to reach 62% of renewables in final energy consumption in 2030 and to reduce GHG emissions by 60% (compared to 1990). The country also intends to become carbon-neutral by 2035.
  • Fortum is the main power generator with around 20% of the country's total capacity (2024). Neste Oil is the largest oil company with a strong position in the biofuels sector.
  • Wind power capacity has more than tripled between 2020 and 2024. The share of nuclear in the power mix increased by 7 points in 2023 to 42%, following the commissioning of Olkiluoto-3.
  • Final consumption was stable in 2024 after a decreased by 6%/year since 2021. Electricity has a share of 29%.
  • Paper industry accounts for 50% of industry consumption.
  • Electricity prices are 50 to 60% lower than the EU average.
  • Around 174 GW of solar projects are planned.
  • A total of EUR5.2bn will be invested between 2026 and 2035 to boost the power transmission grid and interconnections.
83%
share of carbon-free sources in the power mix (2024)
62%
of renewables in final consumption in 2030
+1.4 GW
of wind in 2024

  • Energy & Climate Policy Framework

    The Ministry of Economic Affairs and Employment is responsible for the country's energy policy, through its Department of Energy. More specifically, the department is in charge of energy markets, energy efficiency, emissions trading, renewables, and nuclear energy and fuels. It also coordinates the preparation and implementation of climate policy.

  • Energy Companies

    Electricity:

    Fortum (51% state-owned) is the main power generator, with a capacity of 4.7 GW in Finland (of which 1.9 GW of nuclear, 1.6 GW of hydropower, and 0.4 GW of wind) in 2025. In December 2025, the group acquired ABO Energy's 4.4 GW portfolio of onshore wind projects (at various development phases) in Finland.

  • Energy Supply & Demand

    Oil:

    Crude oil supplies are primarily ensured by imports, with 88% of the consumption coming from the imports in 2024. Such as the oil consumption levels, imports of crude oil declined by 12% in 2024 to 9.2 Mt, after an 11%/year increase over 2021-2023. In 2023, Finland stopped importing oil from Russia, a country on which it used to be primarily dependent (64% of imports in 2021).

  • Energy Use and Price by Sector

    Energy Prices in Industry:

    In 2025, industrial electricity prices decreased by 4%, following a 13%/year decline in 2023-2024, after a 52% surge in 2022. They increased by 2.2%/year over 2017-2021. Electricity prices are significantly lower than the EU average, by 55% in 2024.

  • Issues & Prospects

    Gas:

    The Ministry of Economic Affairs and Employment expects gas consumption to remain stable between 2021 and 2030 at around 5.2 bcm.

  • Graph 1: Final Intensity to GDP
  • Graph 2: Primary Consumption Trends by Energy Source
  • Graph 3: Total Consumption Market Share by Energy (2024)
  • Graph 4: Installed Electric Capacity by Source
  • Graph 5: Installed Electric Capacity by Source (2024)
  • Graph 6: Gross Power Production by Source & Consumption
  • Graph 7: Power Generation by Source (2024)
  • Graph 8: CO2 Intensity of Electricity Generation
  • Graph 9: Crude Oil Production & Consumption
  • Graph 10: Petroleum Products Production & Consumption
  • Graph 11: Gas Production & Consumption
  • Graph 12: Coal Production & Consumption
  • Graph 13: Emissions of GHG and CO2 from Fuel Combustion
  • Graph 14: CO2-Emissions per Capita
  • Graph 15: CO2 Intensity to GDP
  • Graph 16: Final Demand Trends by Energy Source
  • Graph 17: Final Consumption by Sector
  • Graph 18: Final Consumption Market Share by Sector (2024)
  • Graph 19: Share of Electricity in Total Final Energy Consumption
  • Graph 20: Final Consumption in Industry by Energy Source
  • Graph 21: Energy Prices in Industry (Taxes Included)
  • Graph 22: Final Consumption in Transport by Energy Source
  • Graph 23: Energy Prices in Transport (Taxes Included)
  • Graph 24: Final Consumption in Residential, Services, Agriculture by Energy Source
  • Graph 25: Energy Prices in Residential (Taxes Included)
  • Graph 26: Upcoming New Capacity by Energy Source
  • Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
  • Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
  • Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
  • Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.

The Finland energy market data since 1990 and up to is included in the Excel file accompanying the Finland country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • Finland Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Finland energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).

The Finland country dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.

Data included in the excelsheet:

  • Demand: Primary energy consumption, final energy consumption, by fuel, by sector.
  • Power: Electricity generation & capacities, by technology.
  • CO2: Total CO2 emissions.
  • Macro-economy: Main macro-economic assumptions.
  • Key indicators: Energy intensity, share of renewables, CO2 emissions per capita and per unit of GDP.