Fingrid in brief
Fingrid Oyj is Finland’s transmission system operator. Our owners are the State of Finland and Finnish pension companies. Our mission is to secure a reliable supply of electricity in our society in all situations and to promote a clean, market-based power system.
A reliable supply of electricity is secured by transmitting electricity in the main grid, i.e. the high-voltage network, from production plants to industry and power companies that then transmit the electricity to homes. The nationwide main grid is the trunk network to which major electricity producers, industrial plants that use large amounts of electricity and electricity distribution networks are connected.
Fingrid guarantees a disturbance-free electricity supply in Finland. Electricity cannot be stored, which is why electricity production and consumption must be in balance at all times. Our company’s statutory task is to take care of that round the clock.
Finland is part of the Nordic power system, which means that changes in production and consumption in our neighbouring countries also affect us. Electricity is continuously transmitted from one country to another, and Finland is also connected to the Central European power system with transmission connections. Finland also has transmission connections with Russia and Estonia. With cross-border connections, we can ensure system security even on the coldest winter days. Sufficient transmission connections are also the best way to secure the functioning of the market.
- The company was established on 29 November 1996 and its operations began on 1 September 1997.
- The main grid encompasses approx. 14,100 kilometres of 400-, 220- and 110-kilovolt transmission lines, 115 substations, three HVDC connections and 10 of the company’s own reserve power plants.
- Fingrid is owned by the State of Finland (direct holding), the National Emergency Supply Agency, Aino Holding Ky, Ilmarinen Mutual Pension Insurance Company and other institutional investors.
- Turnover amounts to EUR 789.4 (852.8) million.
- The balance sheet total is EUR 2.1 (2.1) billion.
- High credit ratings: ’AA-’ S&P and ’A’ Fitch Ratings
- At the end of the year, Fingrid had 380 (380) employees, 338 (327) of whom were permanent.
Image: Fingrid’s role in the electricity system