The price of exchange electricity – the spot price of electricity sold on the power exchange – will rise to record levels on Friday 5 January 2024. Even at its lowest, the hourly changing price of electricity, including the Finnish value added tax, will be more than a euro per kilowatt-hour (kWh) between 6.00 and 21.00 and more than two euros between 15.00 and 20.00.

The EU Ministers responsible for energy issues will convene for the Energy Council meeting in Brussels on 19 December 2023. The meeting seeks a political agreement to extend three emergency Council regulations on energy by 12 months. Minister of Climate and the Environment Kai Mykkänen will represent Finland at the meeting.

Hydrogen is the fuel of the stars and makes our life possible. Humanity, however, is still in its infancy in harnessing fusion nuclear power as an energy source, so the role of hydrogen on Earth is different - at least for the moment. Traditionally, it already works as a raw material for many industrial processes, for example oil refining. A new, climate-based need is to utilize clean hydrogen in industrial processes that replace fossil-based production.

It's only been four years since Finland's natural gas imports were entirely dependent on the Russian pipeline connection. At the beginning of 2020, the Balticconnector between Finland and Estonia was commissioned, and a year ago, in the conditions of energy crisis, so was the floating LNG terminal in Inkoo. In an amazingly short time, Finland has changed gas monopoly to global LNG market. After the Balticconnector pipeline breach in October 2023, the task is to secure steady deliveries of gas over the winter.

The European Commission’s Commissioner for Energy, Kadri Simson, will visit Finland on 18–19 September 2023. During her visit, Simson will meet Prime Minister Petteri Orpo, Minister of Climate Change and the Environment Kai Mykkänen, Minister for European Affairs and Ownership Steering Anders Adlercreutz and members of Parliament’s Environment and Commerce Committees.