Saturday, 21 May 2022
WorldRussia suspends electricity supply to Finland

Russia suspends electricity supply to Finland

AA/ Helsinki

Russia’s largest electricity company, Inter Rao, suspended Finland’s electricity supply on Saturday.

Inter Rao is a Russian company included in the index of the Moscow Stock Exchange. Founded in 1997, it has a monopoly position on the import and export of electricity in Russia.

Rao Nordic Oy, the Finnish subsidiary of Inter Rao, said in a statement that it was forced to suspend the import of electricity from May 14.

“Unfortunately, we are forced to inform you that for the volumes sold on the Exchange since May 6, the funds have not been credited to our bank account,” she noted.

She also pointed out that this is the first time in more than 20 years of the company’s business history that such an exceptional situation has occurred.

In turn, Finland’s national power company, Fingrid, said in a statement: “According to Rao Nordic, direct or bilateral sales of electricity imported from Russia will be suspended until further notice, due to problems receiving payments. for electricity sold on the market”.

“The lack of electricity from Russia will be compensated by importing more electricity from Sweden and by producing more electricity in Finland,” the vice president of operations for the energy apparatus stressed.

According to the company, Finland is expected to become self-sufficient in electricity in 2023, as wind power generation increases every year, noting that electricity imported from Russia covers nearly 10% of the country’s total electricity consumption.

*Translated from Arabic by Malèk Jomni

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