Energy Authority regulates and promotes operation of the electricity and gas markets, emission reductions, energy efficiency and the use of renewable energy.
The Energy Authority to launch an investigation on an incorrect tender submitted to the power exchange on 23 November 2023
The Energy Authority will launch an investigation on the incorrect tender submitted to the power exchange in the Finnish bidding zone on Thursday 23 November 2023 and its effects on the functioning of the market and on different market participants. As the authority supervising the operation of the power exchange, the Energy Authority will investigate whether the regulation of the power exchange may have been violated in the case and how similar situations can be prevented in the future. The Agency shall investigate the matter in cooperation with regulatory authorities in other countries.
The Energy Authority has prepared enclosed national report on the state of the Finnish electricity and natural gas markets in 2022.
The Finnish Energy Authority (Energiavirasto) will carry out a consultation on application to amend the terms and conditions made by Floating LNG Terminal Finland Oy for Energy Authority on 14.3.2023. The consultation is open from 16th March until 30th March 2023.
In accordance with Article 28 of Commission Regulation the Energy Authority carries out a consultation. The consultation is open from 11th November until 25th November 2022.
The Energy Authority reserves the opportunity for those interested in the matter to present their views on the Terms and Conditions of Balancing proposed by the transmission system operator. Statements must be submitted to the Energy Authority no later than 23 November 2022.
It is very important that EU Member States continue exporting electricity and gas to neighbouring countries in order to secure sufficient supply of energy during the coming winter. This is highlighted in a press release of the European Union Agency for the Cooperation of Energy Regulators (ACER). ACER emphasises that an integrated energy market supports the sufficient supply of energy in all Member States and lowers the peak prices of gas and electricity.
On 1 January 2020, the single entry tariff zone of Finland, Estonia and Latvia (FinEstLat) started operating. The merger of FinEstLat means the linking of the Finnish, Estonian and Latvian markets, removing the internal tariffs in the region and setting the entry tariffs in the region at the same level, by applying the inter-TSO compensation (ITC) mechanism. The results of the operation of FinEstLat single entry tariff zone are greatly positive.
The Energy Authority has prepared enclosed report on the state of the Finnish electricity and natural gas markets in 2021.
Total emissions of Finnish installations within the scope of the EU’s emissions trading system were 20.3 million tonnes of carbon dioxide in 2021. Emissions increased by 3.8 per cent from 2020.
Preparing for disruptions in the electricity grid and natural gas network through emergency planning
Electricity grid and natural gas network companies maintain emergency plans to prepare for disturbances, rationing measures required by disturbances, and exceptional conditions referred to in the Emergency Powers Act. Electric grid companies must update their emergency plans by the end of June 2022.