Fingrid and Gasgrid, the electricity and gas grid companies respectively, have agreed to step up cooperation and have concluded a framework agreement to this effect. The companies have already actively engaged in cooperation in the past, but want to strengthen the basis for this cooperation. In 2023, for example, the companies published a joint scenario study on the potential of the hydrogen economy and its impact on Finland’s energy system.
Energy and raw material systems are undergoing major changes in Finland, Europe and globally. During 2024, the companies identified key areas of cooperation to address the changing situation, in which Finland’s benefits and the companies’ success can be promoted. Going forward, cooperation will continue to be stepped up in key areas identified, including the design of electricity networks and hydrogen infrastructures, for which principles have now been agreed.
Fingrid and Gasgrid have a common objective to find sustainable solutions for the development of Finland’s energy system. The transition to a clean energy system requires cooperation between transmission system operators to ensure market-driven development and a competitive investment environment. At the same time, solutions for security, continuity and security of supply must be developed. The two companies consider it important that Finland’s strengths are taken into account as Europe seeks a new direction and develops energy sector regulation.
Fingrid and Gasgrid have already started work on preparing a joint energy system position paper, the results of which will be announced later this spring. The position paper aims to identify directions for the key competitiveness drivers of the Finnish energy system. A competitive energy system of the future requires electricity and gas systems to work together in their design, construction and operation.
“A clean energy system, affordable electricity prices, secure transmission infrastructures and excellent opportunities to increase renewable production will attract investments to Finland. Transmission infrastructure development and market integration is at the top of the agenda across Europe as transformation of the energy system progresses,” says Fingrid CEO Asta Sihvonen-Punkka.
“Good cooperation between transmission system operators is already one of Finland’s assets and will help to identify the key factors in ensuring the competitiveness of the energy system. We will not stop here, but will build on our cooperation with Fingrid to enable more efficient and reliable energy transmission, which is required for a clean energy system,” says Gasgrid CEO Olli Sipilä.
More information:
Asta Sihvonen-Punkka, CEO, Fingrid
asta.sihvonen-punkka [@] fingrid.fi
Olli Sipilä, CEO, Gasgrid
olli.sipila [@] gasgrid.fi
Fingrid is Finland’s transmission system operator responsible for the transmission of electricity in the main grid.
Gasgrid is the Finnish gas transmission system operator with system responsibility and operates the Inko LNG terminal. Gasgrid is mandated by the Finnish government to develop the national hydrogen infrastructure and to engage in cross-border infrastructure cooperation.
Gasgrid is a state-owned company and the Finnish state has a majority shareholding in Fingrid.