Finland depends on imports to meet its needs
Finns should be prepared for power cuts due to possible power shortages in winter, Finland’s electricity grid operator has announced Fingrid having proceeded to an updated assessment of the situation.
Finland is dependent on imports to meet its needs and is facing reduced power import capacity from Sweden due to the two-month delay in restarting the Ringhals 4 nuclear reactor.
“As a result of great uncertainty, Finns should be prepared for power outages due to possible energy shortages in the coming winter.”
Karhu Voima Oy, a division of KSS Energia, announced today that it has filed for bankruptcy due to skyrocketing electricity prices that have made the business unprofitable.
The company clarified that different alternatives were considered, including its merger with the parent company, but that too was deemed insufficient.
“Due to forecasts for a high energy price in the coming winter, the conditions for continuing business activity are not met,” Olli-Pekka Radala, CEO of Karhu Voima Oy, said in a statement. “Filing for bankruptcy was the inevitable solution.”
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I am currently a news writer for News Bulletin247 where I mostly cover sports news. I have always been interested in writing and it is something I am very passionate about. In my spare time, I enjoy reading and spending time with my family and friends.
