In June, the Energy Authority issued a decision requesting Fingrid to issue transmission rights for the cross-border transmission links between Finland and Estonia. When a smaller area is connected to a larger area with a more liquid hedging market, transmission rights will significantly increase the opportunities available to market parties to hedge against fluctuating electricity prices in that area.
Flexibility is required to ensure that the power system is able to maintain a balance between generation and consumption as renewable forms of energy become more prevalent. Grid energy storage offsets brief generation shortfalls and enables rapid adjustments.
The share of electricity generated from sources that vary according to the weather is on the rise in Finland. At the same time, it is becoming increasingly challenging to maintain the balance between electricity generation and consumption in the power system. At the moment, it is important to ensure that nobody with flexible electricity generation capacity faces any financial barriers that would prevent them from participating in balancing the system.
EPV Energy is one of the trailblazers in industrial-scale wind power generation in Finland: in 2019, approximately 17.4 per cent of EPV’s energy was generated from wind power. EPV Windpower Ltd has wind farms in Teuva, Vaasa, Ilmajoki and Kristinestad.