Low electricity prices in Scandinavian countries have reversed the traditional energy relationship between Finland and Russia. Finland started to export electricity to its eastern neighbor Russia for the first time in history beginning yesterday, following the signing of a new deal between the two countries. Finland began providing 140 megawatts of energy for Russia with exports to the St. Petersburg region from yesterday over 13 hours, from 9 a.m. to 10 p.m., according to the announcement made by Fingrid, the Finnish national electricity transmission grid operator. Timo Kaukonen, head of planning at Fingrid said that "The price of electricity has been so low here in the Nordics that it's profitable for Russia to bring it in. It's the market price that has made this deal." Koukonen also attributed the current low price of Nordic electricity to growing hydroelectric power surplus due to the end of winter and increasing energy input gained from wind power and nuclear power plants.
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