Finland's TEM to Co-Host
TEM to Co-Host
The Finnish Ministry of Economic Affairs and Employment (TEM) is responsible for Energy Affairs. Finland is one of the world’s leading users of renewable sources of energy, especially bioenergy. The country’s most important renewable sources of energy include bioenergy – wood and wood-based fuels in particular – hydropower, wind power, ground heat and solar energy.
Finland’s electricity market was gradually opened to competition after the passing of the Electricity Market Act in 1995. Since late 1998, all electricity users, including private households, have been able to choose their preferred electricity supplier.
There are approximately 75 electricity retailers in Finland. The electricity market also allows electricity consumers to practice small-scale electricity production and sell the energy on the market. Thus, households are becoming active players in the electricity market.
Finland is part of the Nordic wholesale electricity market, which covers the Nordic countries and the Baltic States. Some 70 per cent of the wholesale trade in electricity takes place in the power exchange located in Oslo. The electricity market is becoming European-wide.
Market liberalisation and the Nordic market integration have increased productivity and environmental efficiency, as the Nordic hydropower capacity can now be utilised efficiently and the market also allows for trading in “green” energy.