Finns should be prepared for power outages this winter, grid operator warns

Finns should be prepared for power outages caused by possible electricity shortage in the coming winter, national grid operator Fingrid said in an updated assessment on Monday.

Finland, reliant on importing electricity to ensure reliable supplies, has seen its ability to import power from Sweden weakened after utility Vattenfall earlier this month delayed the restart of the Ringhals 4 nuclear reactor by two months. 

“As a result of great uncertainties, Finns should be prepared for power outages caused by a possible power shortage in the coming winter,” it said in its new assessment.

Meanwhile Finnish power retailer Karhu Voima Oy, a unit of KSS Energia, said on Monday it had filed for bankruptcy due to a sharp rise in electricity prices that made its business unprofitable.

Various options for improving the company’s outlook had been considered, including a merger with the parent company, but this would not have been sufficient, the company said.

“In light of the high energy price forecasts for the upcoming winter, conditions for continuing the business were not in place,” Karhu Voima Chief Executive Officer Olli-Pekka Rantala said in a statement.

“Filing for bankruptcy was an inevitable solution.”