Flexible energy use can deliver significant benefits for Finland’s economy
Finnish industry has a major opportunity to improve profitability by adopting flexible energy use, according to Helen’s latest study. Leveraging flexibility strengthens the resilience of the energy system and enhances Finland’s competitiveness and attractiveness as an investment destination. At its best, flexibility can generate substantial savings for both participating companies and the national economy.
Helen’s study, conducted by AFRY, reveals that the industrial flexibility potential is considerable. Importantly, flexibility does not require major investments from industrial players. Small, precisely timed adjustments in energy use during periods of high electricity prices can deliver up to €100 million in annual benefits without significantly affecting overall production.
“When industry can adapt its energy consumption to market conditions, price spikes are smoothed across society. This enables full utilization of wind and nuclear power without costly support mechanisms. Flexible consumption is key to making clean energy work efficiently and keeping Finland competitive,” says Olli Sirkka, CEO of Helen.
Flexible energy use benefits the entire Finnish energy system. When industry and other actors can adjust consumption based on electricity availability and price, the need for grid investments decreases and system efficiency improves. This supports both existing operators and companies considering new investments.
“The value of flexibility in the electricity market is growing and will likely continue to increase in the future. Flexibility can unlock new revenue streams and enhance the profitability of existing industrial assets. The path to unlocking flexibility requires specialised knowledge of energy markets and new skills – an area where collaboration between the utilities sector and the broader Finnish industry can deliver significant benefits for companies and the overall Finnish economy,” notes Oliver Pearce, Director at AFRY Management Consulting.
Flexibility also strengthens Finland’s energy system resilience, ensuring sufficient electricity under changing conditions. Smart consumption management supports the reliability of society as a whole.
“Energy flexibility is a vital part of Finland’s security of supply. When consumption can be adjusted quickly and intelligently, we can respond to unexpected situations—whether caused by extreme weather or technical disruptions. A flexible energy system makes Finland stronger and more self-sufficient,” Sirkka emphasizes.
Flexibility is a core element of Helen’s strategy and is reflected in investments in electricity and heat storage. Helen recently commissioned one of Finland’s largest battery storage facilities in Nurmijärvi. The company also operates extensive heat storage capacity in Helsinki and several electricity storage sites across Finland.