RAO Nordic Oy, a division of the Russian energy company Inter RAO, announced that on May 14 it will stop deliveries of electricity from Russia to Finland.
RAO Nordic Oy explained that the decision was forced because Finland has not paid for electricity since May 6.
“Unfortunately, we are forced to state that for the volumes sold on the Nord Pool exchange since May 6, the funds have not yet been credited to our bank account. This situation is exceptional and occurred for the first time in over twenty years of trading history,” the company said in a statement on its website.
Earlier today, the Finnish company Fingrid, which manages the country’s electricity grid, said that nothing threatens the electricity market in Finland amid the suspension of supplies by RAO Nordic Oy.
Recently, electricity imports from Russia covered about 10% of Finland’s total consumption.
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