Strategy

The foundation of our operations

Our operations are based on Finnish and EU legislation. In accordance with the Finnish Electricity Market Act, we develop the main grid, maintain a balance between electricity consumption and generation and promote the preconditions for a well-functioning electricity market. The EU Electricity Regulation obligates us to co-operate within ENTSO-E, and regionally to improve the functioning of the internal electricity market. Our task is to participate in the drawing up and implementation of the market, operating and connection codes and the proposals prescribed in them.

We develop the power system and the electricity market rules together with our customers. We keep our customers informed of the development of European rules concerning the electricity industry, and we listen to our customers’ views on European, regional and national proposals being prepared. We keep abreast of our customers’ requests through Fingrid’s Advisory Committee and three customer committees.

Our strategy is based on four perspectives

We develop our operations for the long term, taking the perspectives of our customers, society, finances and personnel into account. We seek quality and efficiency by combining our core expertise with that of the best players. By operating responsibly we earn the trust of our customers, society, shareholders and the work community.

In preparing and executing Fingrid’s strategy, we have examined the requirements set by our vision as fairly as possible from four different perspectives. Our organisation model is based on a matrix structure which supports effective implementation and comprehensively engages the personnel.

Listening to our customers and stakeholders

 
“We develop our business operations with our customers in mind and for the benefit of the entire country.”

Fingrid is Finland’s transmission system operator. Taking care of our mission demands listening to our customers. Fulfilling our mission means having a profound understanding of the current and future needs of our various customers and taking them into account in all our operations.

We develop our services together with our customers, according to their needs and business challenges. We promote the creation of new services and we strive to enable new players to enter the electricity market.
 

Cost-effective player

 
“We operate cost-effectively and bring value to our owners and all of society.”

We operate based on the premise that we respond to the expectations of society in the long term, that we operate cost-effectively and that we provide value to our owners. Our decision-making and operations are based on the right information at the right time and on the desire to be efficient, profitable and responsible. Our governance is transparent and of a high standard. We are a forerunner in transmission system operation on the increasingly international electricity market, which requires continuous development of our operations and our productivity.

We pro-actively and thoroughly plan our investments according to financial and societal requirements. Successful financing activities secures our capital investments and operational maintenance.

Our internal processes are described according to Fingrid’s main duties.
 

Reliably and responsibly

 
“During the energy sector transformation, we will maintain the current good level of system security. Sustainability and safety are highlighted in everything we do.”

We develop the operations of the Nordic electricity system as a comprehensive whole. We are also deepening co-operation, especially with the Baltic countries. We oversee control centre operations, which demands strong knowledge of grid operations. We purchase service when they are cost-effectively available. We own most of the reserve power plants, which serve as fast disturbance reserves.
 

Targeting a clean and reliable market-based electricity system

 
“We rely on well-functioning markets to produce the best and most innovative solutions.”

We want to lead the change in the European electricity market. We actively develop the electricity market in co-operation with our stakeholders. Ensuring a market-based approach benefits customers and enables the cost-effective transition to a clean power system. European legislation and regional solutions on market rules have a significant impact on the markets. We want to have an influence on the preparation of European and regional regulations and market solutions, and our goal is to maintain sufficient electricity transmission connections between neighbouring countries and within Finland. We develop structures to support operating models and the real-time market, enabling the realisation of a market-based, clean power system.
 

Transformation of the power system increases the need for transmission capacity


“We actively foster the integration of the electricity markets in Europe and the Baltic Sea area.”

We are designing and building the transmission grid as flexibly as possible and with solutions that suit various future scenarios to meet society’s power production and consumption needs. Our operations are based on continuous operational improvement and cost-awareness. We also seek to minimise outages in electricity distribution through investments. In terms of future investments, our aim is to engage in co-operation with the authorities, our customers and landowners such that each party is able to approve the investments. Development projects to ensure the sustainability of our operations and our supply chain, as well as occupational safety development projects, are an important part of maintaining the grid.
 

A small and efficient Fingrid


“We innovatively utilise the best technologies and opportunities enabled by digitalisation. We keep the necessary core competence in-house. We co-operate with the best partners.”

Our HR vision is based on our corporate culture. We want to be an open, collaborative, renewing and target-oriented work community. For Fingrid employees, that means that we are at the leading edge of change and we are prepared for the future with our world-class expertise. The members of our work community are customer-focused renewers, responsible results achievers, go-getting team players and international networkers. We also want to ensure an excellent employer image for our company and that the best experts in their field work for us.

Strategic projects

In implementing our strategy, our aim is to continuously improve our operations. Alongside that work, our multi-year strategic projects at the company level are:

  • Putting network codes into practice: well-functioning electricity markets and practices that ensure system security
  • Connecting the Olkiluoto 3 nuclear reactor to the grid: secure connection of one of the world’s largest nuclear power plants to the grid
  • Real-time markets in the Nordics: secure balance between consumption and production in common markets
  • Fingrid in the pocket: Fingrid at your service, regardless of time and place
  • Putting data in order and in productive use: correct and essential information in efficient use
  • Engaging corporate culture: Fingrid employees capable of renewal and boldly adapting to change
  • Decentralised resources on the market: electricity users participating in and benefitting from the electricity market

We have assigned a person responsible on the Executive Management Group level to each strategic project. We implement strategic projects as part of our annual action plans, and the progress of projects is monitored regularly by the Board of Directors and the Executive Management Group.