Fingrid in brief

  • Fingrid Oyj is a Finnish public limited company responsible for electricity transmission in the high-voltage transmission system in Finland.
  • Fingrids nationwide grid is an integral part of the power system in Finland. The main grid is the high-voltage trunk network that covers all of Finland. Major power plants, industrial plants and electricity distribution networks are connected to the grid.
  • Fingrid guarantees a disturbance-free electricity supply in Finland. Fingrid ensures that the generation and consumption of electricity are always in balance and will build some 2,500 kilometres of new transmission lines and eight substations between 2017 and 2026.
  • Fingrids customers include grid companies, electricity producers, electricity consumers and electricity market parties. The company provides these groups with various services, such as connecting consumption and production to the main grid, transmission system security, imbalance power trade and imbalance settlement, well-functioning electricity markets, the production and exchange of electricity market information, and guarantee-of-origin certificates.
  • The Finnish power system is part of the common Nordic power system. The Nordic system is connected to the system in Central Europe via high-voltage direct current (HVDC) transmission links. Finland also has HVDC links with Russia and Estonia.
  • The transmission system owned by Fingrid encompasses approx. 14,600 kilometres of 400, 220 and 110 kilovolt transmission lines, plus 118 substations, four HVDC connections and 10 of the companys own reserve power plants.
  • Fingrid is responsible for planning and monitoring the operation of the Finnish electricity transmission system and for maintaining and developing the system. The company also participates in the work of ENTSO-E, the European Network of Transmission System Operators for Electricity, and in preparing European network codes and network planning. The Nordic TSOs additionally have an unofficial co-operation forum called the Nordic CEO meeting.
  • Fingrid develops new services to improve market efficiency. In spring 2015, Fingrid launched a project that will centralise information exchange between electricity retail sellers and TSOs into one service, called the datahub. The project also aims to clarify and enhance the business processes of electricity retail markets.
  • Fingrid is owned by the State of Finland (direct holding 28.2%), the National Emergency Supply Agency (24.9%), Aino Holding Ky (26.4%), Ilmarinen Mutual Pension Insurance Company (19.9%) and other institutional investors (0.6%). Aino Holding Ky is owned by OP Insurance and pension entities (Pohjola Insurance Ltd, OP Life Assurance Ltd., OP Pension Fund and OP Pension Foundation), the State Pension Fund and Elo Mutual Pension Insurance Company.
  • The company was established on 29th November 1996.
  • Operations started on 1st September 1997.
  • Turnover EUR 586 (600) million.
  • Balance sheet total EUR 2.1 (2.1) billion.
  • The bonds issued by Fingrid in the capital markets are listed on the London Stock Exchange.
  • Fingrid owns 18.8 per cent of electricity exchange Nord Pool AS.
  • Fingrid owns the balance services company eSett Oy together with Statnett and Svenska Kraftnät. The company will offer imbalance settlement services to parties on the Finnish, Norwegian and Swedish electricity markets as of spring 2017.
  • The Finnish, Swedish, Norwegian and Danish TSOs have decided to establish an organisation in charge of joint Nordic operational planning, Nordic RSC (Regional Security Coordination), in Copenhagen, Denmark in late 2017.
  • Number of personnel at year-end: 334 (315), with 291 (280) permanent employees.
  • Fingrid is headquartered in Helsinki, and the company also has offices in Hämeenlinna, Oulu, Petäjävesi, Rovaniemi and Varkaus.

Fingrid Oyj, organisation