Electricity in Finland in 2024

In 2024, Finland reached an impressive milestone by sourcing over 90% of its electricity from low-carbon sources. This achievement reflects the country's commitment to sustainable energy, with a substantial portion of its electricity generated from nuclear power, accounting for more than a third. Wind power reliably contributes to nearly a quarter of the electricity mix, showcasing its growing importance in Finland's energy landscape. Hydropower and biofuels add significant proportions, with roughly one-sixth from the former and more than one-tenth from the latter. Although net imports contribute a small fraction, they play a role in supporting the mostly clean energy mix. At the same time, fossil fuels, including minimal contributions from gas and coal, make up less than 3% of consumption, marking significant progress in reducing carbon emissions. As Finland looks to the future, the challenge remains to electrify transport, heating, and industry sectors, demanding even greater volumes of green electricity.

Suggestions

To meet the increasing electricity demand necessary for electrification and continued decarbonization, Finland can further strengthen its commitment to low-carbon energy. Expanding nuclear power presents a viable path, given its already substantial contribution to the Finnish electricity mix and its reliability as a constant energy source regardless of weather conditions. Wind power, too, holds significant potential for growth, with opportunities to harness Finland's extensive coastlines and breezy terrain. Investments in advanced technologies and infrastructure, such as improved energy storage systems and grid enhancements, can maximize the efficiency and capacity of these low-carbon options. This diversified approach would ensure consistent and clean electricity supply, steering clear of the detrimental impacts associated with fossil fuels, such as climate change and air pollution.

History

Historically, low-carbon electricity in Finland has experienced varied developmental phases. In the early 1980s, there was a notable boost in nuclear generation, with 1981 witnessing a remarkable addition of 7.4 TWh. Similarly, the use of hydropower received a substantial push in the same year with a 4 TWh increase. The 1990s and early 2000s saw fluctuating changes in hydropower, with an expansion in the late 1990s but some years of decline like those in 2002 and 2009. Despite minor setbacks, recent years have shown promising advancements, particularly with wind power growing by 3.2 TWh in 2022 alongside nuclear's resurgence in 2023 by 8.6 TWh. In 2024, wind energy continued to soar with a 4.8 TWh increase, demonstrating Finland's ongoing commitment to low-carbon energy, although a slight dip in nuclear generation occurred. This history underscores Finland's ability to adapt and grow its clean energy portfolio effectively, setting an example for others striving towards sustainable electricity solutions.

Electricity Imports and Exports

Balance of Trade

Maximum Imports

Data Sources