For the European countries involved in sanctions against Russia, they need to bear the consequences of being countered together, especially in terms of energy supply. On August 25, the Finnish government said that in October it will launch a national electricity conservation campaign in its country to deal with the shortage of electricity and the soaring price of electricity.
The day before, Finnish Economy Minister Lintilä also posted his own home appliance price list, showing the current status of electricity prices in Finland. According to the report, the current price of electricity used by The Lintilé family is 49 euro cents (about 3.36 yuan) per kilowatt-hour, which is 463% higher than the previous price of 8.7 euro cents (about 0.6 yuan) per kilowatt-hour.
It is reported that Finland, which has a large territory bordering Russia, previously imported about 10% of its electricity resources from Russia every year for domestic use. But because Finland had expressed its desire to join NATO in May, Russia suspended its electricity supply to the country that night on the grounds that it was in arrears in electricity bills.
According to media reports, Finnish officials have responded to this, saying that the suspension of power supply by the Russian side will not cause damage to Finland's power supply. Finnish Grid will respond by producing more electricity on the ground and choosing to import more electricity from Sweden. It is reported that due to the problem of raw materials and the increase in export volume, the current electricity price in Sweden has also risen sharply.
But shortly thereafter, Russia also cut off supplies of natural gas to Finland. Finland's natural gas consumption accounts for 5% of its total energy consumption, and more than 60% of it comes from Russia. At the same time, as Europe has recently faced a century-old drought, The amount of nuclear and hydropower on which Finland relies mainly is also declining.
Affected by the weather, neighbor Norway, a hydroelectric power country, is also preparing to launch measures related to electricity export restrictions in the near future. Subsequently, three countries, including Sweden, Finland and Denmark, issued a joint statement on the situation, hoping that the Norwegian Government would make a prudent decision.
According to the relevant power companies, although Norway is not a member of the European Union, its power grid is an important part of the EU market. If Norway continues to announce restrictions in the future, I am afraid that it may cause more countries in the energy crisis to follow suit. The current reaction in Finland is so strong that it is most likely for this reason.
Faced with the double-headed attack of Russia's supply cuts and Norway's electricity export restrictions, Finland is really uncomfortable at the moment. Affected by the overall energy shortage in Europe, the current Finnish electricity market is still difficult to recover quickly. This week, Finnish officials said it would be possible to take turns in the country during the winter months.
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