On May 13th, Finland’s transmission system operator Fingrid announced the Russian energy company would cut off its power supply to Finland starting from May 14th, which was Russia’s first concrete action in response to Helsinki’s bid for NATO membership.
It is learnt that RAO Nordic, a Finnish subsidiary of Russian state energy holding Inter RAO, said in a statement that they were forced to suspend the electricity import from Russia because they had not received payment for volumes sold in May from Finland and this situation happened for the first time in over 20 years of trading history.
Fingrid added Russian electricity only accounted for approximately 10% of Finnish total consumption and there was no threat to Finnish supplies. Missing imports could be replaced by importing more electricity from Sweden and generating more electricity in Finland.
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