86%
share of carbon free sources in the power mix in 2020
≡ Menu ≡
This analysis includes a comprehensive Finland energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With 2020 market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.
Immediate by e-mail
Price without VAT. Depending on your statute and location, VAT might be applicable. Get in touch with us for more information.
Highlights
86%
share of carbon free sources in the power mix in 2020
50%
of renewables in final consumption in 2030
2.8 GW
of nuclear projects under development
Abstract
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
Oil:
Oil supplies are primarily ensured by imports, particularly crude oil (over 80%). In 2020, crude oil imports declined by 9% to 11.4 Mt; according to preliminary estimates, imports fell again in 2021 (-26%) with 81% of imports coming from Russia and 17% from Norway.
Energy Prices
Gas:
The price of natural gas for industry is double the EU average. It is significatively lower for households. In 2020, the average price of gas for Finland on the GETBaltic gas exchange stood at €12.2/MWh; it surged to over €90/MWh in December 2021.
Graph: GAS PRICES FOR INDUSTRY AND HOUSEHOLDS (€c/kWh GCV)
Energy Consumption
Total energy consumption per capita is twice as high as the EU average, at 5.8 toe in 2020, including over 14 000 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
Electricity:
According to Fingrid's forecasts, electricity consumption should reach 100-115 TWh in 2030, driven primarily by industry. Wind power capacity should soar from over 2.5 GW in 2020 to over 14 GW in 2030, enough to generate 53 TWh of power, covering 30 to 50% of the total electricity consumption. Solar capacity should double to 3 GW in 2030, along with the nuclear capacity.
Below is a list of the Finland energy market report graphs:
In the Finland energy market report you will find the following tables:
The Finland energy market data since 1990 and up to 2020 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:
The Finland country report is complemented with a national power generation dashboard (excel file) from our Power Plant Tracker Service.
Data included in the excelsheet:
Projections Data (Excel Sheet)
The Finland country dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.
Data included in the excelsheet:
Secured payment by