Finland energy storage price inquiry

Why does Finland import coal & natural gas?

Coal and natural gas are imported to Finland mainly to be used in energy production. The tax-free import price of hard coal was around 60 per cent higher in the third quarter than in the second quarter. The rising price trend is clear. Compared to one year ago, the price was more than double.

Does Finland have a battery supply chain?

Finland’s government sees critical mineral production and the battery supply chain as promising areas for economic development that also support energy transitions. Finland has large deposits of cobalt, nickel, lithium, graphite and other critical minerals – and is home to the only company outside China supplying cobalt for lithium-ion batteries.

What happened to fuel prices in Finland?

Fuel prices in heat production The increase in the price of oil products imported to Finland evened out and the price of crude oil returned to its pre-corona level in the third quarter. The rise in the consumer prices of liquid fuels continued.

Does Finland have a high energy consumption?

At the same time, Finland still has a high level of energy consumption in relation to the size of its economy, showing the opportunity for energy efficiency to help improve energy security and reduce emissions in sectors such as transport and industry.”

Does Finland rely on fossil fuels?

Thanks to its fleet of nuclear plants and high shares of electricity generation from biomass, hydro and wind power, Finland already has a low reliance on fossil fuels. In 2021, fossil fuels covered 36% of its total energy supply, well below the IEA average of 70%.

Does Finland produce lithium ion batteries?

Finland has large deposits of cobalt, nickel, lithium, graphite and other critical minerals – and is home to the only company outside China supplying cobalt for lithium-ion batteries. Finland is also active across other parts of the battery supply chain, from manufacturing of batteries and chargers, to battery recycling.