Electricity prices in Finland 2022
In 2022, the average wholesale day-ahead electricity price in Finland was € 0.1534 /kWh. Below is the month-by-month breakdown plus a chart of how prices moved through the year.
Monthly breakdown — 2022
| Month | €/MWh | €/kWh | MW |
|---|---|---|---|
| January 2022 | € 106.67 | € 0.1067 | 11,186 |
| February 2022 | € 81.06 | € 0.0811 | 10,698 |
| March 2022 | € 86.75 | € 0.0867 | 9,918 |
| April 2022 | € 79.40 | € 0.0794 | 9,139 |
| May 2022 | € 132.89 | € 0.1329 | 8,152 |
| June 2022 | € 140.28 | € 0.1403 | 7,742 |
| July 2022 | € 183.41 | € 0.1834 | 7,676 |
| August 2022 | € 261.44 | € 0.2614 | 7,908 |
| September 2022 | € 214.32 | € 0.2143 | 8,079 |
| October 2022 | € 113.43 | € 0.1134 | 8,543 |
| November 2022 | € 195.47 | € 0.1955 | 9,577 |
| December 2022 | € 246.25 | € 0.2463 | 10,223 |
Finland's electricity mix changed dramatically when the 1 600 MW Olkiluoto-3 reactor came online in 2023 — Europe's largest, after delays of over a decade. Together with Loviisa and the older Olkiluoto units, nuclear now covers around 40% of generation; hydro from the northern Kemi and Oulu rivers adds another 25%. Fingrid, the national TSO, operates the FI bidding zone within the Nordic synchronous area and runs the country's connection to the Russian IPS/UPS grid (suspended since May 2022).
Wind has grown extraordinarily fast — from 2 TWh in 2015 to over 18 TWh in 2024 — making Finland a structural exporter to the Baltic states. Day-ahead prices on Nord Pool occasionally drop below zero on windy spring nights when reservoirs and reactors stay at base load.
The Hanhikivi-1 reactor project with Rosatom was cancelled in 2022; new SMR reactors are under feasibility study.