Sometimes the best perspectives come from an entirely different industry. Recently, Fingrid has actively tested some of the different concepts for bringing competence together and creating innovation. For example, various innovation events and competitions create an inspiring atmosphere, which in the best cases leads to new creative, productive cooperation.
For a transmission system operator, the basis of operations is slightly different to what it is in many other companies. The aim of development work is not necessarily an increase in market share or the active launch of a product. Neither does the money invested in R&D activity always bring financial benefit in the same financial period. It is, however, also important to do sustained development work.
The renewal of the electricity market represents an opportunity for market actors and consumers. However, the transition phase will create pressure to change and uncertainty for both groups as the discussion shifts to bidirectional power system products, energy community regulations and energy storage.
The Vaasa region is home to an international hub of energy technology industry with strong expertise in areas like decentralised energy production, energy distribution and operations solutions. The hub employs 11,000 people, and many of its more than 140 companies are international market leaders in their sectors. The combined turnover of the companies is over 4.4 billion euros, and export accounts for more than 80% of that figure. This is equivalent to nearly one-third of Finland’s total energy technology exports.
As a transmission system operator, Fingrid has a central role in powering Finland. During the past year 2017, we continued to develop the grid for the power system of the future, writes Fingrid's President and CEO Jukka Ruusunen. Take a look at the Annual Report: annualreport.fingrid.fi/en/
The entire electricity system is undergoing an unprecedented change. Fingrid’s aim is to have effectively functioning electricity markets in the Baltic Sea region that ensure reliability of supply in all conditions. However, the “clean electricity system of the future” will require strong transmission connections in order to operate optimally.
The Smart grid working group appointed by the Ministry of Economic Affairs and Employment has published its interim report. The main message is that, in the future, consumers will have more opportunities to participate in the electricity market and be able to influence their electricity bill to a greater extent. A smart electricity system will provide actors with more possibilities, and is a cost-effective way to respond to the challenges of the energy transformation.
Early this year, Finland initiated discussion about the need to fix the electricity market, subsequently bringing about a broad-ranging exchange of ideas. The first concrete pilot project in the Nordic electricity exchange has also been launched.