Finland to Limit Electricity Import From Russia This Sunday

From Sunday, April 24, the Finnish electric grid company Fingrid will limit the capacity in cross-border connections with Russia, as a result of which the imported capacity will decrease from 1300 MW to 900 MW. The export capacity from Finland to Russia will remain at 320 MW. 

“The decision is based on an assessment of the risks to the energy system in a changing international environment,” Fingrid stated.

It is noted that the only operator of the export-import of electricity in the Russian Federation is PJSC Inter RAO. Finland is the company’s main export market. In 2021, 8.2 billion kWh of electricity were delivered to this country from the total export of 21.77 billion kWh.

Earlier, the manufacturer of power equipment Wartsila from Finland stated that under the current conditions, it is not advisable for Wartsila to continue working in Russia, announcing plans to write off approximately 200 million euros related to assets and operations in Russia.

As specified, Wartsila has suspended all deliveries and sales in Russia since the end of February due to the start of a special operation in Ukraine.

“In the current environment, it is not viable for Wartsila to maintain activities in Russia,” the statement said.

The company decided to create a reserve of 200 million euros in the financial statements for the first quarter of 2022. It is assumed that these actions will have a negative impact on the financial performance of Wartsila: activities in Russia accounted for about 5 per cent of net sales, or about 40 million euros.

In total, Wartsila has three offices in Russia with more than 750 employees, with the first office opened back in 1981, Vedomosti reminded. The Wartsila Energy division supplies power plants to the market of decentralized energy sources, the Wartsila Marine division works with companies from the field of maritime transportation and in the oil and gas industry.

Ru-Main, 22.04.2022 

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