A citizens’ initiative calling for electricity transmission prices to be made more affordable has received the required 50,000 signatures of support and will now proceed to parliament to be debated by MPs.
The initiative urges the government to start preparing legislation that would prohibit or limit power-based charges for households in electricity transmission.
It also aims to ensure that electricity transmission pricing is fair, predictable, and transparent for consumers.
An Yle investigation revealed last year that many electricity distribution companies have an effective monopoly in their respective regions. According to a study by the Finnish Homeowners' Association, this has led to the gap between the cheapest and most expensive basic electricity transmission fees exceeding 36 euros per month.
A previous report found that electricity transmission fees have risen so rapidly that, in some places, the cost of transmission may exceed the cost of electricity usage itself.
IL: Government planning electricity price cap
The high cost of electricity has been making headlines in Finland this week, especially in light of the recent extended cold snap and subsequent surge in demand for power.
In response, tabloid Iltalehti reported on Tuesday that Prime Minister Petteri Orpo’s (NCP) government is preparing legislation aimed at mitigating the effects of sudden price hikes.
According to the newspaper, a bill that would enable the regulation of retail electricity prices during circumstances such as an exceptional surge in demand has been sent out for comments and consultation.
The purpose of the bill, according to a government statement, is to ensure the availability of reasonably priced energy for households and small businesses during an electricity price crisis.
Iltalehti added that Finland could implement a price cap on electricity via a separate law if the EU's Council of Ministers finds that the country is vulnerable to an electricity price crisis.
