HELSINKI, May 13 (Reuters) – Russian utility Inter RAO (IRAO.MM) will cease exporting electrical energy to Finland from Saturday at 0100 local-time (Friday at 2200 GMT) because it had not been paid, the Finnish grid firm stated on Friday.
The commerce in electrical energy imported from Russia will probably be suspended “for the time being” due to difficulties in receiving funds for electrical energy bought in the marketplace, Fingrid stated in a press release, citing Inter RAO.
“There is no threat to the adequacy of electricity in Finland,” the grid stated, including that power from Russia accounted for some 10% of Finland’s complete power consumption.
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“Missing imports can be replaced in the electricity market by importing more electricity from Sweden and partly also by domestic production,” it added.
Fingrid stated Nord Pool, the pan-European power change, had not paid Inter RAO since May 6 for electrical energy it purchased from the Russian utility.
“Nord Pool is the one paying for them. Fingrid is not a party in this electricity trade, we provide the transfer connection from Russia to Finland,” Reima Paivinen, Fingrid’s senior-vice president for operations, informed Reuters.
A spokesperson for Nord Pool stated the corporate didn’t remark market data that prospects have reported by way of pressing market messages (UMM).
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Reporting by Anna Pruchnika in Gdansk, Essi Lehto in Helsinki and Nora Buli in Oslo, modifying by Gwladys Fouche
Our Standards: The Thomson Reuters Trust Principles.
Russia’s Inter RAO to halt power exports to Finland due lack of payment & More Latest News Update
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