Finland Energy Information

Finland Energy Research

- Finland's Energy & Climate Policy Framework: Finland targets 62% renewables by 2030, carbon neutrality by 2035, and a 60% GHG cut vs 1990.

- Finland's Energy Companies: Fortum dominates Finland’s power generation (20% capacity), while Neste leads oil/biofuels. Fingrid manages transmission; district heating is widespread.

- Finland's Energy Supply & Demand: Finland’s energy mix shifted significantly towards renewables and nuclear, reducing CO₂ emissions by 8% in 2024.

- Finland's Energy Use & Price by Sector: Finland’s energy use in 2024 saw stable final consumption, with industry (40%) as the top consumer, dominated by biomass and electricity. Electricity prices are significantly lower than the EU average.

- Finland's Issues & Prospects: Finland plans major grid upgrades (EUR 5.2bn by 2035) to support 174GW solar/wind expansion, aiming for 40%+ renewable electricity by 2030.

Finland Total Energy Production & Consumption

Total energy consumption decreased by 2.5% in 2024 to 32 Mtoe, continuing the slowly declining trend observed since 2010 (-1%/year), with fluctuations between 32 and 37 Mtoe. Consumption per capita stood at 5.7 toe in 2024, which is twice higher than the EU average.

Biomass is the main energy source (31%, +8 pp since 2010), followed by nuclear (27%, +9 pp), oil (21%, -5 pp), coal (6%, -13 pp), wind (6%, + 6pp), gas (4%, -6 pp), hydro (4%, -6 pp) and solar (1%).

Graph: Primary Consumption Trends by Energy Source

Source: Finland energy report

Interactive Chart Finland Total Energy Production & Consumption

Source: Global Energy & CO₂ data

Finland Oil Production & Consumption

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). Those imports from Russia have mainly been replaced by imports from Norway and Sweden.

Source: Finland energy report

Interactive Chart Finland Crude Oil Production & Consumption

Source: Global Energy & CO₂ data

Interactive Chart Finland Refined Oil Products Production & Consumption

Source: Global Energy & CO₂ data

Finland Natural Gas Production & Consumption

Finland's gas production is marginal and all domestic consumption is covered by imports. Gas imports grew by 4.2% in 2024 to 1.7 bcm, and consisted entirely of LNG (78% from Norway and 15% from the US), since the Imatra interconnection point with Russia has been suspended since May 2022 (-47% for gas imports in 2022, followed by a 17% rebound in 2023). Before the suspension of Russian gas imports, imports had been stable between 2015 and 2021, at around 2.6 bcm.

Source: Finland energy report

Interactive Chart Finland Gas Production & Consumption

Source: Global Energy & CO₂ data

Finland Coal and Lignite Production & Consumption

In 2024, Finland's coal production (1.4 Mt, -21% on 2023) only covered 35% of its consumption (44% in 2010) and the country imported half of its coal consumption, i.e., 1.9 Mt of coal.

In 2024, coal and peat consumption dropped by 20% in 2024 to 4 Mt, following a 26% decrease in 2023. Coal and peat consumption, which had remained roughly stable between 2015 and 2018, has been falling by 15%/year since then, due to lower demand from the power sector.

Source: Finland energy report

Interactive Chart Finland Coal and Lignite Production & Consumption

Source: Global Energy & CO₂ data

Finland Renewable in % Electricity Production

According to Finland's 2024 NECP, renewables are expected to account for at least 62% of the country's final energy consumption in 2030 (of which, 29% for road transport). This share reached 52.1% in 2024, of which 54.3% for electricity, 62.6% for heating, and 20.3% for transport. The share of renewables in transport is the second highest in the EU, behind Sweden.

Source: Finland energy report

Interactive Chart Finland Share of Renewables in Electricity Production (incl hydro)

Source: Global Energy & CO₂ data

Finland GHG emissions and CO₂ emissions

The European Climate Law sets binding targets to reduce net GHG emissions by at least 55% by 2030 compared to 1990 levels and reach net zero emissions by 2050.

The Finnish Climate Act, entered into force in 2022, sets a more accelerated pace than the general EU requirements. The emission reduction targets are -60% by 2030, -80% by 2040 and -90 % but aiming at -95 % by 2050, compared to the levels in 1990. According to the Act, Finland must be carbon neutral by 2035 at the latest.

Source: Finland energy report

Interactive Chart Finland CO₂ emissions

Source: Global Energy & CO₂ data