Share of renewables in total energy consumption remained unchanged in 2022 despite the energy crisis

Key changes in 2022

Several significant changes took place on the energy market in 2022. At the beginning of the year, a strike occurred in Finnish forest industry, which reduced the use of wood fuels and disrupted the growth trend of renewable energy.

In reaction to Russia's large-scale attack on Ukraine, the European Union imposed various restrictions on trade with Russia. The share of energy imported from Russia in total energy consumption was 18 % in 2022, while it had been 32 % in the previous year. The import of electricity and pipeline gas from Russia to Finland ceased completely in May. Imports of liquefied natural gas (LNG) from Russia increased by 31 % in 2022.

The market prices of gas and electricity rose exceptionally high in Europe in the fall of 2022, which was also reflected in the price of energy in Finland. The high price in Europe was caused by a decrease in natural gas imports from Russia and the need to store natural gas, as well as a dry summer and maintenance shutdowns of French nuclear power.

Domestic production of electricity remained on level with the previous year, but the structure of production changed. Wind power grew by 41 per cent and nuclear power by seven per cent. Fuel-based production fell by 13 per cent.

Final energy consumption decreased by 5 per cent because of savings measures, high prices, mild weather and weakened economic outlook.