Finland Move from Russia-based Inter RAO

Inter RAO, a Russian-based electric power company, announced that it will now stop electricity shipments to Finland.

In the announcement made by RAO Nordic Oy, the Finnish subsidiary of Russian company Inter RAO, it was noted that the company imported electricity from Russia and supplied it to Finland. In the statement, it was stated that the company had not received any payment for its electricity deliveries since May 6, and it was emphasized that such a situation was experienced for the first time in 20 years. In the statement, which included the information that the company could not supply electricity from Russia due to the failure to make the payments, “Therefore, we have to stop electricity imports from Russia as of May 14. We hope that the situation will improve soon and electricity trade with Russia will resume.” Finland's electricity distribution company Fingrid commented on the situation that electricity will be imported from Sweden instead of Russia and there will be no problems with electricity supply in the country. Finland imported approximately 10% of its electricity from Russia.