Electricity prices in Finland 2024
In 2024, the average wholesale day-ahead electricity price in Finland was € 0.0458 /kWh (▼20% vs 2023). Below is the month-by-month breakdown plus a chart of how prices moved through the year.
Monthly breakdown — 2024
| Month | €/MWh | €/kWh | MW |
|---|---|---|---|
| January 2024 | € 106.25 | € 0.1062 | 12,338 |
| February 2024 | € 51.72 | € 0.0517 | 11,393 |
| March 2024 | € 59.51 | € 0.0595 | 9,937 |
| April 2024 | € 48.94 | € 0.0489 | 9,191 |
| May 2024 | € 35.08 | € 0.0351 | 8,019 |
| June 2024 | € 36.31 | € 0.0363 | 7,565 |
| July 2024 | € 16.82 | € 0.0168 | 7,701 |
| August 2024 | € 12.59 | € 0.0126 | 8,034 |
| September 2024 | € 56.50 | € 0.0565 | 8,039 |
| October 2024 | € 41.16 | € 0.0412 | 8,914 |
| November 2024 | € 45.36 | € 0.0454 | 9,918 |
| December 2024 | € 38.79 | € 0.0388 | 10,685 |
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.