Gaia blog

A more secure energy future

09.11.2022

The recent discussion around Finland’s energy future has largely focused on the price and the sufficiency of electricity during the next winter.

Yet we are not only in the midst of a short-term energy crisis. We have reached a comprehensive turning point which is dominated by a strong upturn in the demand for electricity.

Industry, transportation, heating and machinery are electrified at a speed which indicates that all projections are likely to underestimate the coming demand for electricity. The demand will be further raised by the move to hydrogen economy where hydrogen and its derivatives will be produced by electricity and used to carry and store energy.

One part of Finland’s energy future is the unification of electric grids in the Baltic Sea area. In the future, an increasing amount of electricity will move between Nordic and the Baltic countries and Central Europe. Shared investments in clean electricity – for example in the form of offshore wind power – will also tie the countries’ energy systems closer together and thus improve energy security not only for the region but for all of Europe.

The investments already made in clean energy are a concrete sign that we have turned a corner in our thinking about energy. Now it is time for Finland too to start building a more secure and resilient energy future.

The more secure energy future means (1) increasing production of clean electricity, (2) increasing flexibility through electricity storage, demand-side management and hydrogen economy as well as (3) increasing interconnections of European electricity networks.

Juha Vanhanen

Director

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