Elenia and Sustainability 2024 report: Reliable and cost-effective electricity distribution is the cornerstone of electrification and security of supply
The carbon-neutral future of society requires large-scale electrification and reliable electricity distribution to be realized. Finland wants electrification to promote energy self-sufficiency, competitiveness and security of supply. Achieving these goals requires investments in critical infrastructure, the electricity distribution network.
"It must be ensured that the capacity of the electricity networks does not become a bottleneck for electrification. The goal of our development work is to strengthen the attractiveness of our network area for various actors and businesses in society," says Jorma Myllymäki, CEO of Elenia.
The just published Elenia and sustainability 2024 report and Annual review 2024 gives a comprehensive picture of the development of Elenia's operations and services based on the principles of sustainable development.
Security of electricity distribution, cyber security and preparedness as part of security of supply and overall safety
Cyber security requirements are constantly growing, as the technological race between cyber threats and protection against them accelerates.
"Electricity distribution has a significant security of supply role as it enables the operation of other infrastructure, for example telecommunications and water supply. Our preparedness and preparedness plans are our key work tools in terms of security of supply and preparedness," Myllymäki emphasizes.
During the spring, Elenia is working on a regular update of its preparedness and contingency plans for evaluation by the Energy Authority. Regarding preparedness, Elenia is involved in energy industry working groups, participates in preparedness and preparedness exercises, and familiarizes its stakeholders with the security of electricity distribution and preparing for power outages.
Development plan and customers hearing show direction
Elenia had to adapt its electricity distribution network development plan from last year to the Energy Authority´s regulation methods for the years 2024-2031, which do not take into account the investment needs of electrification. Instead, network companies have had to cut their investment plans.
"Based on the customer hearing, we know that 85 percent of our customers would allow a power outage of 12 hours at most, instead of the current 36 hours set for 2036 in the Electricity Market Act. With the current regulation, the prospect is the continuation of investments to renew the aging electricity network well into the next decade," says Myllymäki.
Elenia needs more than 2.4 billion euros for security of supply investments until 2036, as well as network expansion and strengthening investments required by a clean transition.
In recent years, as part of the electricity consumption measurement reform, Elenia has implemented the replacement of new smart meters for its customers. The installation phase will be completed by the end of this year.
"A total of about 400,000 of our customers will receive new generation smart electricity meters. They enable consumption flexibility solutions and promote the utilization of renewable energy in the electricity market," says Myllymäki.
