Correction in Fingrid's stock exchange release 25.5.2023: In 2022, grid service fees were waived for December, not for four months
26 Maio 2023 - 4:00AM
Correction in Fingrid's stock exchange release 25.5.2023: In 2022,
grid service fees were waived for December, not for four months
Correction in Fingrid's stock exchange release 25.5.2023: In
2022, grid service fees were waived for December, not for four
months.
Fingrid is confirming its earlier plans to use the
record-high congestion income from 2022 to benefit
its customers and
waive grid service fees for six months in
2023. In 2022, grid service fees were
waived for December. For
2023, Fingrid has announced that it will waive grid service
fees for January, February and June and now confirms that it will
waive grid service fees for July,
November and December. This will reduce
grid customers’ fees by altogether some EUR 300
million.
The high price of electricity and major area price differences
increased TSOs’ congestion income, especially in the second half of
2022. Congestion income for 2023 has been significantly lower, with
Fingrid reporting EUR 71.1 (166.6) million in congestion income for
the first quarter. Congestion income arises for Fingrid from the
area price differences at the borders of Finland and Sweden and
Finland and Estonia. No congestion income arises from transmission
links within Finland, unlike in the other Nordics countries.
The accumulation and use of congestion income are prescribed by
EU legislation and use of the income is decided by the local
supervisory authority, the Finnish Energy Authority. In Finland,
congestion income is used for cross-border investment projects,
they cover the costs resulting from cross-border transmission of
electricity and development of cross-border transmission, and they
can be allocated to the company’s turnover to reduce grid service
fees. Going forward, Fingrid will also use congestion income to
benefit its customers.
The current structure of TSO pricing or unit prices will not
change as a result of the waiving of the grid service fees. Also,
the waiving of the grid service fees decided on now will not affect
the pricing of the company’s other services. Due to the increase in
weather-dependent production and electricity consumption,
fluctuations in the company’s market-based costs will increase,
which means that the size of the grid service fees may have to be
adjusted several times a year. On the other hand, growing
electricity consumption creates an opportunity to achieve cheap
grid service fee unit prices.
“The strong growth in the production of renewable electricity in
Finland increases energy self-sufficiency and reduces the price of
electricity, which serves to create a competitive advantage for
Finland, attracting new industry to the country. Sustainability is
highlighted and the greatest climate impact is achieved when fossil
fuels are replaced with the cleanest electricity possible. The
amount of fluctuation also grows in a weather-dependent power
system, increasing the need for changes in customer pricing.
Fingrid’s objective is to ensure a continued customer experience of
high quality and efficient operations, and the competitive pricing
of services,” says Fingrid’s CFO Jukka Metsälä.
Further information:Jukka Metsälä, Chief
Financial Officer, Fingrid Oyj, tel. +358 30 395 5213Jussi
Jyrinsalo, Senior Vice President, Fingrid Oyj, tel. +358
30 395 5118
Fingrid 29 (LSE:38FE)
Gráfico Histórico do Ativo
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Fingrid 29 (LSE:38FE)
Gráfico Histórico do Ativo
De Dez 2023 até Dez 2024
