Fingrid in brief

  • Fingrid Oyj is a Finnish public limited company responsible for electricity transmission in the high-voltage transmission system in Finland.
     
  • The company was established on 29 November 1996.
     
  • Operations started on 1 September 1997.
     
  • Turnover amounts to EUR 852.8 (672) million.
     
  • The balance sheet total is EUR 2.1 (2.1) billion.
     
  • Fingrid’s 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 Between 2018 and 2027, some 1,600 kilometres of new transmission lines and 20 substations will be built.
     
  • Fingrid’s customers include grid companies, electricity producers, major electricity consumers and electricity market parties. The services the company offers its customers are electricity transmission, balance services, guarantee-of-origin certificates, electricity market information and retail market information exchange.
     
  • 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. 14,300 kilometres of 400-, 220- and 110-kilovolt transmission lines, plus 114 substations, four HVDC connections and 10 of the company’s own reserve power plants.
     
  • Fingrid’s statutory tasks include developing the electricity market. Fingrid also actively participates in the activities of the ENTSO-E, the European Network of Transmission System Operators of Electricity. Fingrid furthermore engages in regional TSO co-operation in the Nordic countries and in the Baltic Sea area. TSO co-operation takes place for grid planning, grid operations and electricity market development alike.
     
  • Fingrid Datahub Oy selected the supplier for the Datahub system in June. The procurement is valued at EUR 41.9 million. The Finnish Government proposed a bill to Parliament on 20 September 2018 concerning amending the Electricity Market Act and related legislation. The Datahub is a centralised information exchange system for retail markets that stores data from all of Finland’s 3.5 million places of electricity consumption. The Datahub will go live in 2021.
     
  • 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.
     
  • Fingrid’s debt issues on the capital markets are listed on the London and Irish stock exchanges (Euronext Dublin).
     
  • 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. eSett provides imbalance settlement services to Finnish, Norwegian and Swedish electricity market parties. The company’s operations commenced in May 2017, when eSett Oy took over imbalance settlement. At the same time, the markets transitioned to using a harmonised Nordic imbalance settlement model.
     
  • The joint Nordic operational planning office, Nordic RSC, has been operating in Copenhagen, Denmark, since 2017. Fingrid has sent three employees to the office.
     
  • At the end of the year, Fingrid had 380 (355) employees, 327 (308) of whom were permanent.
     
  • Fingrid is headquartered in Helsinki, and the company also has offices in Hämeenlinna, Oulu, Petäjävesi, Rovaniemi and Varkaus.