Key Messages
Reliable access to clean and affordable electricity is a cornerstone of our member companies’ competitiveness and a key enabler for emissions reductions through electrification. To achieve this, we need not only increased renewable electricity production but also better energy storage capacity and incentives for heavy process industries to enhance their ability to quickly adjust electricity consumption.
In developing the energy system, sufficient and competitively priced clean electricity self-sufficiency and efficient distribution networks, both domestically and with neighboring countries, are crucial. Alongside these, green hydrogen, biocarbon, and biogas play vital roles. The adoption of small modular nuclear reactors (SMRs) should be promoted, and hydrogen produced with nuclear power should be recognized as a product aligned with the green transition.
Policy Directions
- Maintain a consistent commitment to greenhouse gas emission reduction targets.
- Industrial electricity consumption must be put on a growth trajectory. Finland’s energy, climate, and industrial policies must create a competitive environment for energy-intensive but low-carbon metal production.
- Revenues collected from energy-intensive industries under the emissions trading system should be redirected to support emissions reductions in these industries, such as by advancing electrification.
Key EU Initiatives and Reforms
- European Climate Law and Post-2030 Climate Policy
- Decarbonisation Accelerator Act
- Action Plan for Affordable Energy Prices
- Revision of Energy Taxation Directive
- Electrification Action Plan
- Electricity Market Design