Electricity in Finland in 2023

Finland is leading the way when it comes to low-carbon electricity generation, with an astounding 90% of the country's electricity supply stemming from low-carbon sources as of 2023. Of these clean energy sources, nuclear power is the most prevalent, contributing almost half of the nation's electricity. This is complemented by considerable amounts of hydropower and wind energy, which each account for around a fifth of the electricity generated. Biofuels make up around 10% of the mix, while solar power is yet to make a significant impact, accounting for just a little over 1%. The remaining electricity supply is largely derived from fossil fuels, accounting for a meagre 5%.

Suggestions

Looking forward, the next step for Finland is to increase its low-carbon electricity generation even further. Given that nuclear power already forms a substantial part of Finland's electricity mix, there is potential to expand this sector further. Similarly, wind power is another area where growth could be encouraged, capitalizing on the fact that it already generates a sizeable portion of the nation's electricity. This expansion would not only serve to decrease the country's carbon footprint, but it would also allow other sectors such as transport, heating and industry to be electrified, moving them away from dependency on fossil fuels.

History

Looking back at Finland’s journey with low-carbon electricity, the country has seen quite a few ups and downs. In the early 1980s, nuclear power saw a significant boost with an increase of 7.4 TWh in electricity generation. Hydropower also saw an increase during this period. However, the following decades were marked by fluctuations in hydroelectric generation, with periods of both growth and decline. The start of 21st century saw the introduction of biofuels into the mix, adding further diversity to Finland's low-carbon electricity sources. The last few years have been particularly noteworthy, with significant increases in both wind and nuclear energy; however, the country also saw a significant decline in biofuels. Despite these changes, Finland’s commitment to low-carbon electricity generation has remained steadfast throughout.

Electricity Imports and Exports

Balance of Trade

Maximum Imports

Data Sources