The company Fingrid, which controls the Finnish power grid, has confirmed that the power supply from Russia has been terminated.
This was reported by Helsingin Sanomat.
RAO Nordic, a subsidiary of Russian energy company Inter RAO, announced that from May 14 it would not supply electricity to Finland.
Reima Päivinen, Fingrid's chief operating officer, says the reason for the supply cut reported by RAO Nordic is payment difficulties. Päivinen could not assess in more detail what is behind it and whether the move is related to the sanctions.
According to Fingrid, the end of Russian electricity supplies does not threaten consumers in any way. The missing imports can be replaced by importing more electricity from Sweden, as well as partly through domestic production.
According to Päivinen, the impact on the consumer can be mostly indirect.
"When the supply of electricity in the Nordic wholesale market decreases, it will in principle lead to a slight increase in wholesale prices," he noted.
But first, electricity exchange prices are likely to rise. Päivinen reminds us that most of the "regular consumers of electricity" buy electricity at fixed prices, which means that the price growth will not be visible or noticeable over time.
Electricity from Russia accounts for 10% of Finland's consumption.
