Prices of electricity from Russia and within the Nordic power system are becoming more equal. Wednesday morning between 8 and 10 was the first time in 32 years the transmission via the 1,400 MW cross-border line to southern Finland was halted.
“We would lose money if buying electricity from the Russian energy market during the peak demand time,” says Marja Rasi-Kurronen, director of trading company Nordic Rao to Taloussanomat.
Risto Lindroos in Fingrid says to the newspaper that the prices from Russia on Wednesday morning was about 1,000 rubles (€25) per megawatt hour, while in Finland electricity was available for €41. Including taxes and grid payment, the import from Russia simply became unprofitable.
Fingrid has an online portal where imports from Russia and the transfer to and from Finland to the other Nordic countries and Estonia show real-time transmissions.
The Russian, Finnish 1,400 MW high-voltage line was built in 1981 and has since brought substantial amount of nuclear generated electricity into Finland and later the Nordic power system traded at Nord Pool Spot electricity exchange market. The nuclear generated part of the electricity comes from Leningrad nuclear power plant west of St. Petersburg.
The halt in import Wednesday is due to both higher peak-time prices in Russia and warming spring weather with increased production at Scandinavian hydropower plants.
