Russia cuts off electricity supplies to Finland amid Ukraine war; cites pending dues

Russia's leading importer of electricity, RAO Nordic, which provides electricity to Finland has announced that it has decided to cut electricity supplies to Finland due to payment arrears. It stated that for many years, RAO Nordic has been importing power from Russia to Finland and selling it to Nord Pool. It further said that money has not yet been paid to the bank account for the quantities sold on the Nord Pool exchange since May 6 and as a result, beginning on May 14, they will be compelled to halt electricity imports to Finland. RAO Nordic further stated that they hope that the situation will improve quickly, allowing for the resumption of electrical commerce with Russia.

Finland's grid operator Fingrid also announced on Saturday that RAO Nordic had cut the electricity supply to Finland, which imports roughly 10% of its electricity from Russia. Reima Päivinen, who is Fingrid's Senior Vice President of Power System Operations stated that the loss of Russian electricity imports will be balanced by importing more electricity from Sweden and generating more electricity in Finland, according to media reports.

Fingrid suggested that Finland was predicted to achieve electrical energy self-sufficiency in 2023, as wind power generation continues to rise year after year. The latest report stated that this year, Finland is anticipated to generate another 2,000 megawatts of wind power. Fingrid also said that imported Russian electricity has accounted for about 10% of Finland's overall usage.

Finland and Sweden shift in favour of NATO membership

RAO Nordic claims it hasn't been paid for power since May 6 but doesn't indicate whether this is related to European sanctions on Russia. Following Moscow's invasion on February 24, political and popular opinion in Finland and Sweden has shifted in favour of NATO membership as a deterrence to Russian aggression. On Sunday, Finland is likely to formally announce its intention to join NATO. Finland, which shares a 1,300-kilometer border with Russia, has previously avoided military partnerships but after Russia invaded Ukraine in February, Finland shifted in favour of NATO membership, with the president and prime minister pushing for the country to join NATO "without delay" on Thursday.