Analyzing Electricity Prices and Production Sources in Finland: Trends from 2018 to 2023
Hossain, Md Arfanul (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024061423326
https://urn.fi/URN:NBN:fi:amk-2024061423326
Tiivistelmä
Electricity has significantly enhanced our quality of life since its invention over two centuries ago. It emerges as a critical energy vector and offers an unprecedented opportunity to foster a clean energy transition and decarbonize energy uses. The upcoming changes aimed at deepening electrification for sustainability over the next 30 years will surpass anything we've experienced so far. Recent analyses show that electricity will be the main energy carrier of the future, accounting for more than half of global energy consumption by 2050.
Finland aims to achieve carbon-neutral electricity production by 2035, currently relying on nuclear power, renewable energy, cogeneration, and imports from neighboring countries. Recent events such as the COVID-19 pandemic, reducing import dependency on Russia, and abrupt climate changes have posed significant challenges. However, Finland has made substantial strides in focusing on renewable energy sources like solar and wind power and adding a new nuclear plant to the national power grid. The aim was to identify patterns in the evolving electricity market and determine how self-sufficient Finland has become by 2023.
This thesis would analyze various data sets on electricity prices, production sources, and imports from 2018 to 2023, using tools like Excel and Python. Key findings reveal that in 2023, only 2% of Finland's consumed electricity was imported, a significant decrease from nearly a quarter in previous years. This shift indicates Finland's progress towards self-sufficiency in electricity production.
Finland aims to achieve carbon-neutral electricity production by 2035, currently relying on nuclear power, renewable energy, cogeneration, and imports from neighboring countries. Recent events such as the COVID-19 pandemic, reducing import dependency on Russia, and abrupt climate changes have posed significant challenges. However, Finland has made substantial strides in focusing on renewable energy sources like solar and wind power and adding a new nuclear plant to the national power grid. The aim was to identify patterns in the evolving electricity market and determine how self-sufficient Finland has become by 2023.
This thesis would analyze various data sets on electricity prices, production sources, and imports from 2018 to 2023, using tools like Excel and Python. Key findings reveal that in 2023, only 2% of Finland's consumed electricity was imported, a significant decrease from nearly a quarter in previous years. This shift indicates Finland's progress towards self-sufficiency in electricity production.