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Electricity prices in Finland hit record high in 2021 – Helsinki News

According to sector organisation Finnish Energy, in 2021 the typical value of electrical energy in Finland was practically 2.6 occasions increased than in the earlier yr, up from about 28 euros ($32) per megawatt-hour (MWh) to 72 euros per MWh, stories Xinhua news company.

One of the primary causes behind the worth hike was the rise in energy consumption, significantly the rising industrial demand.

Last yr, the nation’s last electrical energy consumption totalled 86 terawatt-hours (TWh), 6 per cent greater than in 2020. The industrial sector’s consumption accounted for 44 per cent of the entire.

Jukka Leskela, Finnish Energy’s Managing Director, defined to Yle that wholesale power prices have been unprecedentedly high for a very long time.

This winter’s freezing temperatures may outcome in additional value spikes, he mentioned.

Nevertheless, Finnish Energy mentioned that in comparison with different European international locations, electrical energy prices stay reasonably priced for customers.

A family consuming between 2,500 kilowatt-hours (kWh) and 5,000 kWh of electrical energy a yr paid about 17 eurocents per kWh in the primary half of 2021 in Finland.

Germany had the very best electrical energy prices and Hungary the bottom among the many 27 European Union (EU) member states.

Households in Germany paid about 30 eurocents per kWh, 3 times greater than in Hungary.

According to Finnish Energy, renewable power helped cowl half of the rise in electrical energy consumption in Finland in 2021, with a steady drop of electrical energy era from coal, whereas imports coated the opposite half.

Electricity prices in Finland may proceed to extend in 2022, Yle mentioned.

Disclaimer: This story is auto-aggregated by a pc program and has not been created or edited by FreshersLIVE.Publisher : IANS-Media

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