Finland warns electricity prices could surge by up to 83%

Electricity prices for consumers in Finland could rise by nearly 83%, Finnish newspaper Iltalehti reports.

According to the newspaper, current legislation requires power outages to be limited to no more than six hours in urban areas and 36 hours in sparsely populated regions by the end of 2036. To meet these requirements, electricity distribution company PKS Sähkönsiirto would have to install underground cables in rural areas, requiring major investments.

The company has proposed postponing the deadline for ensuring uninterrupted power supplies until 2044 and extending the permitted outage period in sparsely populated areas from 36 to 72 hours.

PKS Sähkönsiirto warned that meeting the requirements could increase electricity transmission charges for consumers by up to 83% compared with current levels.

By Jeyhun Aghazada