Russia suspends power supply to Finland

Russian state-owned company RAO Nordic suspended electricity export to Finland on Saturday, said the company in a statement.

The company pointed out that the money for the electricity sold on Nord Pool exchange since the 6th of May was not yet been credited to its bank account resulting the suspension of the power supply.

“Unfortunately, in the current situation of lack of cash income, RAO Nordic is not able to make payments for the imported electricity from Russia. Therefore we are forced to suspend the electricity import starting from 14th of May,” said RAO Nordic in a statement.

The company, however, hoped that the situation will get improved soon and the electricity trade with Russia could resume.

Following the suspension there is no longer any supply of Russian electricity to Finland as Finnish National transmission system operator Fingrid had already suspended electricity imports through a transmission line to Imatra on the eastern border.

Earlier in late April, Fingrid also limited Russian exports so that they only accounted for about 10 percent of the total consumption of electricity in Finland.

Fingrid authority, however, said that Finland needs not to be worried about electricity shortage but the cut-off electricity supply by Russia will increase the electricity price, which already significantly increased this year.