Published: 18 December 2008
According to Statistics Finland's preliminary data, total energy consumption amounted to 1,030 petajoule in the January to September period of 2008, which was 4 per cent less than in the corresponding period of the year before. Consumption of electricity totalled 65 terawatt hours (TWh), i.e. 2.4 per cent less than in the year before. Carbon dioxide emissions from the production and use of energy diminished by nearly 10 per cent from the previous year. The favourable water situation in the Nordic countries and ample production of hydro power reduced the consumption of fossil fuels in electricity generation, which led to the markedly bigger reduction in emissions than in total consumption of energy. The mild winter also contributed to the reduced need for heating energy. Energy consumption in industry was also falling by 5 per cent.
Over the January to September period, consumption of coal decreased by 25 per cent (coal includes here hard coal, coke and blast furnace gas). Consumption of peat diminished by 11 per cent and that of oil by 3 per cent from the year before. By contrast, consumption of natural gas went up by 7 per cent. Consumption of wood fuels stayed nearly on level with the previous year. Net imports of electricity remained unchanged at 11 TWh. The production of hydro energy went up by 20 per cent from the previous year and exceeded the average for the 2000s by 30 per cent. The use of wind power in electricity generation grew by nearly 50 per cent from the year before. The share of wind power of Finland's electricity is 0.3 per cent. The start of the second emissions trading period at the beginning of the year weakened the competitive position of fossil fuels and peat when compared with non-carbon dioxide energy sources. Over 50 per cent of electricity was generated with hydro and nuclear power.
Total energy consumption, petajoule (1 petajoule = 1,000 terajoule)
In September, high prices of emission rights and coal doubled the price of electricity from the previous year on the Nordic electricity market NordPool. This, and the worsened water situation in Norway and Sweden increased the production of condensate power in Finland. Starting from August-September, the increased power production made Finland into a net seller on the Nordic electricity market.
The signs of economic slowdown and looming recession that gathered strength during the autumn turned the price of oil to a decline from its record high level in the summer. Developments in the price of oil are also reflected in the prices of other fuels. The prices of electricity and fuels which had remained high throughout the early part of the year began to fall towards the end of the third quarter. In late October, the prices of emission rights also fell. By contrast, among home produced fuels the price of peat has gone up due to last summer's difficult production conditions.
Sources: Energy supply, consumption and prices 2008, 3rd quarter. Statistics Finland
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Last updated 18.12.2008