Finland energy report

• Finland aims to reach over 50% of renewables in final energy consumption in 2030 and to phase out coal-fired generation by 2029. The country also intends to become carbon-neutral by 2035.
• Fortum completed the acquisition of German energy group Uniper.
• Gasum has lost its monopoly on the gas market.
• Neste Oil is the largest oil company with a strong position in the biofuels sector.
• Around 62% of the power mix is CO₂-free.
• The country is highly dependent on Russia for its oil and gas supply.
• Electricity prices are much lower than the EU average.
• Pulp and paper accounts for around 1/4 of final consumption and over 50% of industry consumption.
• Total energy consumption has remained stable since 2013. Biomass contributes to 30% of the energy mix.
• The commissioning of 1.6 GW Olkiluoto-3 EPR has been delayed to March 2022.
• More than 1.8 GW of wind projects is under construction.
• A total of €1.4bn will be invested between 2019 and 2030 to reinforce the power transmission grid.

• Institutions & Energy Policy

  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 Supply

  Gas:

  Gas imports are relatively stable since 2015, hovering around 2.5 bcm (2.6 bcm in 2019). Russia supplied 100% of Finland's gas imports by pipeline. LNG, which accounts for less than 4% of gas imports, is also mostly provided by Russia (71%), followed by Norway (29%).

• Energy Prices

  Electricity:

  Electricity prices for industry declined by 3% in the first semester of 2020, after a 2%/year increase over 2018-2019. Since 2013, electricity prices for households increased by 2%/year.

  Taxes account for 33% of residential prices (11% for industry) and excise taxes on electricity are much higher than the EU minimum (€22.4/MWh and €6.9/MWh, respectively).

• Energy Consumption

  Total energy consumption per capita is twice as high as the EU average, at 6.2 toe in 2019, including around 15 000 kWh of electricity (2.7-fold higher than the EU average). The gap is due to a high share of pulp and paper industry activity.

  Graph: CONSUMPTION TRENDS BY ENERGY SOURCE (Mtoe)

• Issues & Prospects

  Gas:

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

• GENERAL OVERVIEW
• INSTITUTIONS AND ENERGY POLICY
• ENERGY SUPPLY
• ENERGY PRICES
• ENERGY CONSUMPTION
• ISSUES AND PROSPECTS
• DATA TABLES
• ABBREVIATIONS
• GLOSSARY

Download the Table of Contents

Below is a list of the Finland energy market report graphs:

• GRAPH 1: CO₂-energy emissions (MtCO₂)
• GRAPH 2: Installed electric capacity by source (2019, %)
• GRAPH 3: Gross power production by source (TWh)
• GRAPH 4: Power generation by source (2019, %)
• GRAPH 5: Gasoline & diesel prices (€/l)
• GRAPH 6: Electricity prices for industry and households (€c/kWh)
• GRAPH 7: Gas prices for industry and households (€c/kWh GCV)
• GRAPH 8: Consumption trends by energy source (Mtoe)
• GRAPH 9: Total consumption market share by energy (2019, %)
• GRAPH 10: Final consumption market share by sector (2019, %)
• GRAPH 11: Oil consumption (Mt)
• GRAPH 12: Oil consumption breakdown by sector (2019, %)
• GRAPH 13: Electricity consumption (TWh)
• GRAPH 14: Electricity consumption breakdown by sector (2019, %)
• GRAPH 15: Natural gas consumption (bcm)
• GRAPH 16: Gas consumption breakdown by sector (2019, %)
• GRAPH 17: Coal consumption (Mt)
• GRAPH 18: Coal consumption breakdown by sector (2019%)

In the Finland energy market report you will find the following tables:

• 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.
• Infrastructure Projects: Covers power plant projects by energy, technology, status and operator, gas plant projects by status and operator and LNG contracts.

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.