Following Thursday’s report that Russia threatened to cut the flow of gas
to Finland, Russia—through its entity RAO, will suspend imports of
electricity to Finland as of 1:00 a.m. on Saturday, May 14, Fingrid said
on Friday in a statement on its website.

The Finnish transmission system operator, Fingrid, claims that the
security of Finland’s power supply is not under threat, with 10% of its
electricity consumption imported from Russia. Reima Paivinen, Senior VP of
Power System Operations at Fingrid, said that whatever electricity is
typically imported from Russia “will be compensated by importing more
electricity from Sweden and by generating more electricity in Finland.”

Finland has taken steps towards greater self-sufficiency with its
electricity generation, with the amount it produces itself increasing
every year, according to Fingrid. Another 2000 MW of electricity
generation capacity is expected to come online this year, with
self-sufficiency achieved next year.

But natural gas flows from Russia to Finland too. And yesterday, Russia
warned Finland that there would be retaliation for Finland applying for
NATO membership. Local news outlet Iltalehti has stated that Finland would
be cut off from Russia’s gas supply as of May 24th, when its next payment
to Gazprom comes due. Finland has refused to pay in rubles as Putin has
demanded.

Between 60% and 70% of Finland’s natural gas comes from Russia, though the
country’s main sources of energy are oil, biomass, and nuclear power.
Natural gas represents only 5% of the total consumption.

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