Electricity prices in Finland 2023
In 2023, the average wholesale day-ahead electricity price in Finland was € 0.0571 /kWh (▼63% vs 2022). Below is the month-by-month breakdown plus a chart of how prices moved through the year.
Monthly breakdown — 2023
| Month | €/MWh | €/kWh | MW |
|---|---|---|---|
| January 2023 | € 78.66 | € 0.0787 | 10,324 |
| February 2023 | € 80.12 | € 0.0801 | 10,212 |
| March 2023 | € 74.12 | € 0.0741 | 10,074 |
| April 2023 | € 60.55 | € 0.0606 | 8,872 |
| May 2023 | € 26.67 | € 0.0267 | 7,898 |
| June 2023 | € 43.43 | € 0.0434 | 7,446 |
| July 2023 | € 32.95 | € 0.0329 | 7,250 |
| August 2023 | € 66.41 | € 0.0664 | 7,542 |
| September 2023 | € 32.56 | € 0.0326 | 7,751 |
| October 2023 | € 37.71 | € 0.0377 | 9,152 |
| November 2023 | € 75.32 | € 0.0753 | 10,438 |
| December 2023 | € 76.21 | € 0.0762 | 11,028 |
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.