Media: the Finnish government will announce emergency measures in the energy sector

HELSINKI, Sep 4 – PRIME The Finnish government will announce emergency financing of several billion euros in the coming hours to stabilize the electricity market, according to the country’s largest newspaper Helsingin Sanomat.

“Today, the government will announce billions of euros in emergency funding to stabilize the electricity market. The government will meet to negotiate a financing package in the House of Estates at 16:00 (coincides with Moscow time – ed.) and will announce its decision after the completion of negotiations,” the government says. in the message.

The Swedish government announced similar measures earlier Sunday, providing SEK 250 billion ($23.23 billion) in liquidity guarantees to the country’s energy companies, lasting until March next year.

There are fears that electricity prices will rise sharply on Monday morning when the exchange trades begin. The sharp rise in prices could mean that the electricity companies will need at least hundreds of millions or even billions of euros in additional financing to ensure supplies, the Finnish edition specifies.

Nord Stream has been operating with restrictions since mid-June, and since the end of July, it has been operating at only 20% of its nearly 170 million cubic meters of capacity per day. The Russian side emphasized that the decrease in supplies was due solely to sanctions, which caused problems with the maintenance and repair of Siemens gas pumping units. Recently, only one turbine provided work.

On Friday, Gazprom reported that Nord Stream, which had previously been stopped for three days for scheduled maintenance, could not resume operation due to an oil leak at the only operating Trent 60 unit. A representative of the German Siemens Energy said that the company did not considers the conclusion of Gazprom as a technical reason for stopping the gas pipeline.

However, after the Russian company announced that Siemens is involved in the repair work of the unit, it detects malfunctions and is ready to fix them, but because of the sanctions, there is nowhere to do this.