Fingrid in brief
- Fingrid Oyj is a Finnish public limited company responsible for electricity transmission in the high-voltage transmission system in Finland. The company was established on 29th November 1996.
- Operations started on 1st September 1997.
- Turnover amounts to EUR 672 (586) million.
- The balance sheet total is EUR 2.1 (2.1) billion.
- Fingrid’s nationwide grid is an integral part of the power system in Finland. The main grid is the high-voltage trunk network that covers all of Finland. Major power plants, industrial plants and electricity distribution networks are connected to the grid.
- Fingrid guarantees a disturbance-free electricity supply in Finland. Fingrid ensures that the generation and consumption of electricity are always in balance Between 2017 and 2026, some 1,500 kilometres of new transmission lines and eight substations will be built.
- Fingrid’s customers include grid companies, electricity producers, major electricity consumers and electricity market parties. The services the company offers its customers are electricity transmission, balance services, guarantee-of-origin certificates, electricity market information and retail market information exchange.
- The Finnish power system is part of the common Nordic power system. The Nordic system is connected to the system in Central Europe via high-voltage direct current (HVDC) transmission links. Finland also has HVDC links with Russia and Estonia.
- The transmission system owned by Fingrid encompasses approx. 14,400 kilometres of 400-, 220- and 110-kilovolt transmission lines, plus 115 substations, four HVDC connections and 10 of the company’s own reserve power plants.
- Fingrid is responsible for planning and monitoring the operation of the Finnish electricity transmission system and for maintaining and developing the system. The company also participates in the work of ENTSO-E, the European Network of Transmission System Operators for Electricity, and in preparing European network codes and network planning. Alongside European co-operation, Nordic TSOs co-operate in the areas of grid operations and the development of grid and electricity market rules.
- Fingrid develops new services to improve market efficiency. In spring 2015, Fingrid launched a project that will centralise information exchange between electricity retail sellers and TSOs into one service, called the datahub. The project also aims to clarify and enhance the business processes of electricity retail markets.
- The company is owned by the State of Finland (direct holding 28.2%), the National Emergency Supply Agency (24.9%), Aino Holding Ky (26.4%), Ilmarinen Mutual Pension Insurance Company (19.9%) and other institutional investors (0.6%). Aino Holding Ky is owned by OP Insurance and pension entities (Pohjola Insurance Ltd, OP Life Assurance Ltd., OP Pension Fund and OP Pension Foundation), the State Pension Fund and Elo Mutual Pension Insurance Company.
- The bonds issued by Fingrid in the capital markets are listed on the London Stock Exchange.
- Fingrid owns 18.8 per cent of electricity exchange Nord Pool AS.
- Fingrid owns the balance services company eSett Oy together with Statnett and Svenska Kraftnät. In line with its motto, “We settle together”, the company offers imbalance settlement services to parties on the Finnish, Norwegian and Swedish electricity markets. The company’s operations commenced in May 2017, when eSett Oy took over imbalance settlement. At the same time, the markets transitioned to using a harmonised Nordic imbalance settlement model. The goal is to offer market parties operating conditions that are as equal as possible in the entire operating area, thus lowering both their market-entry threshold and costs. eSett serves more than 1,000 electricity market parties.
- The joint Nordic operational planning office, Nordic RSC, launched its first operations at the end of 2017 in Copenhagen, Denmark.
- Number of personnel at year-end: 355 (334), with 308 (291) permanent employees.
- Fingrid is headquartered in Helsinki, and the company also has offices in Hämeenlinna, Oulu, Petäjävesi, Rovaniemi and Varkaus.
Fingrid Oyj’s organisation