At Fingrid, we continuously think about the future and the impacts it will have on the operations of a transmission system operator. For us, the main drivers of the future will be the energy system’s transition to new production methods and technologies, and the changes taking place in society. The electrification of society is an efficient way to put an end to the considerable carbon dioxide emissions caused by the energy system.
As a transmission system operator, Fingrid has a central role in powering Finland. During the past year, we continued to develop the grid for the power system of the future. The grid’s transmission capacity was in efficient use, and transmission reliability remained at an excellent level. We also raised the reliability of direct current (DC) connections that are important for the electricity market to an all-time high.
Fingrid does important development work on behalf of the power system’s transmission reliability and the electricity markets. The modernisation and digitalisation of the power system continuously leads to new innovations. Without significant technological breakthroughs, the transition to a new, clean power system is not possible. It is important that the new technologies are effectively integrated into the power system.
The market’s “invisible hand” is the best partner for new technologies: competition and the markets effectively steer new investments, while price guides the use of new technology so that it optimally supports balance in the power system. Well-functioning markets fairly reward market players and encourage them to find new solutions. It has been a joy to see that demand-side management in electricity consumption is gradually finding its place in the electricity markets. The hope is that the market attracts new investments also in electricity production.
Here at Fingrid, we are seeking new solutions on a broad front by collaborating with innovative companies. Our mission is to support and promote Finnish companies by carrying out joint development work with them and by serving as a platform for growth for new businesses. This enables us to support Finland’s success in the best possible way and to realise our core mission as a transmission system operator for all Finns.
We have published a comprehensive electronic annual report for 2017 which, in addition to disclosing financial information, provides insight into our strategy and business operations. Read more!