Electricity Prices Continue to Rise

For example, two of the largest energy companies Fortum and Helsingin Energia have already increased rates. Energy suppliers Vattenfall and Savon Voima are also among those companies which plan to raise prices next year. Rates will jump anywhere from six percent to twenty percent.

According to Timo Pylvänen, the managing director of Savon Voima, the price of wholesale electricity will skyrocket next year. Wholesale prices are expected to be 60 percent higher next year than this year in Nordic countries.

"Prices follow the wholesale rate on the retail markets. Of course, with some delay," he said.

Market Prices Up in Autumn Electricity prices rose already in the fall, including the average price of electricity sold to households. Next year prices are expected to jump even further, as emissions trading will increase production prices. A few companies have decided however that they will not yet sign on to the price increase. Pertti Suuripää, the marketing director at the company Tampereen Sähkölaitos, said his company does not yet feel the need to increase prices. However, it's possible prices will rise next year, he said. YLE