Fingrid to collect grid service fees from July until December
22 Maggio 2024 - 12:15PM
UK Regulatory
Fingrid to collect grid service fees from July until December
Stock exchange release 22 May 2024
Fingrid has made the decision to collect grid service
fees from customers between July and December 2024 in accordance
with the valid pricing. In keeping with its earlier announcement,
the company waived grid service fees for January, February and June
2024.
On 21 September 2023, Fingrid announced that it would waive grid
service fees for January, February and June of 2024 and that it
plans to waive the fees for another three months in the latter half
of 2024.
Fluctuations in the price of energy and large transmission
volumes in the main grid have increased uncertainty in Fingrid’s
market-based cost items. The decision to collect grid service fees
in July–December 2024 is based on the increase in the cost of
transmission grid operations brought about by the expansion of the
electricity system and the increase in weather-dependent
electricity generation, and on the implementation of necessary grid
investments.
An exceptional amount of congestion income, arising from
differences in the price of electricity, accumulated for Fingrid in
2022 from the Finland–Sweden and Finland–Estonia transmission
connections. The accumulated congestion income enabled the waiving
of grid service fees in the first half of 2024. Between 1 January
2022 and 31 March 2024, Fingrid used roughly EUR 750 million in
congestion income to benefit its customers by way of reduced grid
service fees.
Fingrid will use accumulated congestion income for the benefit
of its customers in future as well. The Energy Authority decides on
the use of the congestion income received by Fingrid for
investments, to cover costs and to lower grid service fees, in
accordance with EU legislation.
The capacity to produce weather-dependent, renewable electricity
has grown sharply in the past few years, which has also increased
fluctuations in the price of electricity and the volume of main
grid transmissions. The number of connection enquiries received by
Fingrid indicates that electricity production and consumption will
grow in the future, which calls for investments in the main grid.
Fingrid’s investment programme is progressing, and the level of
investments will increase in the course of 2024.
The energy sector’s changing operating environment coupled with
the aforementioned trend weaken the predictability of operating
costs. Variations in the company’s costs naturally affect customer
pricing and increase the need to adjust prices.
Fingrid’s grid service customers are electricity producers,
regional network operators and major electricity consumers.
Households are not direct customers of Fingrid, and Fingrid’s main
grid accounts for around two per cent of a household’s electricity
price.
Further information:
Jukka Metsälä, CFO, Fingrid Oyj, tel. +358 30 395 5213
Jussi Jyrinsalo, Senior Vice President, Fingrid Oyj, tel. +358 30
395 5118
Email addresses are in the format:
firstname.lastname@fingrid.fi
Grafico Azioni Fingrid 29 (LSE:38FE)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Fingrid 29 (LSE:38FE)
Storico
Da Dic 2023 a Dic 2024
