One of the central pillars of Finland’s energy strategy is the ambitious goal of doubling electricity production within the next ten to 15 years.
In an exclusive interview with Energy Live News, Kai Mykkänen, Finland’s Minister of Climate and the Environment, discussed the multifaceted challenges Finland faces on its path to achieving net zero emissions.
Mr Mykkänen highlighted three key dimensions of Finland’s energy policy, each playing a pivotal role in shaping the nation’s energy future.
Mr Mykkänen stressed that the planned substantial increase in electricity generation is essential for the growth of the clean industry.
The plan involves the electrification of industrial processes, which will, in turn, lead to a heightened demand for electricity.
The aim is to make Finland an attractive destination for clean industry investments and clean and dependable electricity supply is seen as the linchpin for achieving this objective.
Finland’s Minister for Climate and Environment told Energy Live News: “We already have a basically non-fossil electricity mix now. That’s the job that we’ve done during the past decade.
“And now our aim is to double electricity production in ten to 15 years to be actually the best place for clean, clean industrial investments.”
In response to concerns about rising energy bills, the Minister pointed out that the government’s strategy of increasing electricity production is designed to stabilise and even lower electricity prices for consumers.
Concerning global energy conservation efforts, Mr Mykkänen elaborated on initiatives aimed at promoting energy savings.
One notable effort involves implementing automatic systems for electricity heating in buildings and houses, enabling consumers to adapt their heating systems to price levels without additional investments.
When asked about the similarities and differences between Finland’s power system and that of the UK, Mykkänen acknowledged shared investments in offshore wind energy and nuclear power.
However, he emphasised Finland’s advanced progress in phasing out fossil fuels and doubling its electricity system, which sets it apart from the UK’s energy landscape.
As for the future of energy technology, Minister Mykkänen highlighted the promising potential of large scale underground hot water storage.
Finland’s plans to develop a tenfold increase in hot water storage capacity could provide year-round heating for entire cities, mitigating the seasonal fluctuations in energy supply.
Click the video to watch the full interview.
