Foremost risks and uncertainty factors for society and Fingrid
Since Fingrid plays a significant role in Finnish society, the impact of risks is assessed from both the company’s and society’s perspective. The risk entities recognised as strategic risks concern either society alone, Fingrid alone or both.
One of the company’s biggest business risks and the biggest risk where society is concerned is a major disturbance related to the functioning of the power system. A major disturbance can result in a situation where most of the grid is out of power, which paralyzes society’s functions and causes major damage to the economy.
Other major risks for Fingrid and society are a dysfunctional electricity market, environmental risks and serious workplace accidents.
The risks to Fingrid’s operations include risks related with unfavourable regulatory development, financing risks, asset risks, compliance risks, major ICT disturbances and personnel risks.
Risks to society arising from Fingrid’s operations include unsuccessful timing of investments, long-term restrictions in transmission capacity, and incidents resulting in major harm to customers.
The major risks to Fingrid mentioned above are explored in greater detail in the company’s annual report. Fingrid’s financing risks are described in more detail in sections 6.2 and 6.3 of the consolidated financial statements. No substantial risks were realised in 2018.