RAO Nordic, a subsidiary of Russian state energy holding Inter RAO, will suspend imports of electricity to the Scandinavian country from 1am on Saturday. Direct or bilateral sales of electricity imported from Russia will be halted until further notice. This is due to issues in receiving payments for electricity sold on the market.
The firm said: “We are forced to suspend the electricity import starting from May 14.
“RAO Nordic is not able to make payments for the imported electricity from Russia.”
Fingrid, the Finnish transmission system operator, has calms fears the adequacy of electricity in country is under threat.
During recent years, imported electricity from Russia has covered around 10 percent of Finland’s total consumption.
Reima Päivinen, Senior Vice President of Power System Operations at Fingrid, said: “The lack of electricity import from Russia will be compensated by importing more electricity from Sweden and by generating more electricity in Finland.”
THIS IS A BREAKING STORY. MORE TO FOLLOW…