FINLAND POWER MARKET OUTLOOK TO 2030, …Finland Power Market Outlook to 2030, Update 2014 –...
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FINLAND POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS
AND COMPETITIVE LANDSCAPE
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FINLAND POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
Executive Summary
Hydropower Capacity Dominates Electricity Generation in Finland
Hydropower accounted for a XX% share of the
total installed capacity of Finland in 2013, followed
by coal-based thermal power with XX%, and
nuclear power with XX%. Other renewable sources
such as biomass, biogas, solar PV, and onshore
and offshore wind accounted for a share of XX%,
followed by oil-based thermal capacity with XX%.
The remaining XX% was accounted for by gas-
based thermal power capacity.
Power Market, Finland, Cumulative Installed Capacity Breakdown by Fuel Type (%), 2013
Hydropower
Coal (thermal)
Nuclear
Oil (thermal)
Gas (thermal)
Other renewables: biomass, biogas,
onshore and offshore wind, solar PV
Source: GlobalData, Power Database [Accessed on October 28, 2014] PV: Photovoltaic
Increase in Power Consumption and Generation from 2000 to 2013
Electricity generation in Finland has varied over
recent years, depending on precipitation levels,
demand for electricity, Nordic spot prices, and
other conditions. Finland recorded an increase in
power consumption from 2000 to 2013. Annual
power consumption amounted to XX Terawatt
hours (TWh) in 2000, and increased at a
Compound Annual Growth Rate (CAGR) of XX%
to XX TWh in 2013. Annual electricity generation
also increased during the same period, from XX
TWh in 2000 to XX TWh in 2013, at a CAGR of
XX%. The industrial sector is the biggest user of
electricity in the country and is the key contributor
to the high growth in power consumption. The cold
climatic conditions prevailing in Finland is another
key factor contributing to the high growth of
electricity consumption.
Power Market, Finland, Annual Power Consumption and Generation (TWh), 2000–2013
2000 2007 2013
Annu
al p
ower
con
sum
ptio
n an
d ge
nera
tion
(TW
h)
Annual power consumption Annual power generation Source: GlobalData, Power Database [Accessed on October 28, 2014]
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Table of Contents
FINLAND POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
1 Table of Contents
1 Table of Contents ....................................................................................................................... 4
1.1 List of Tables ...................................................................................................................... 7
1.2 List of Figures ..................................................................................................................... 9
2 Introduction ............................................................................................................................... 10
2.1 GlobalData Report Guidance ............................................................................................ 11
3 Finland, Power Market, Snapshot ............................................................................................. 12
3.1 Finland, Power Market, Macroeconomic Factors ............................................................... 12
3.2 Finland, Power Market, Supply Security ............................................................................ 15
3.3 Finland, Power Market, Generation Infrastructure ............................................................. 16
3.4 Finland, Power Market, Transmission Infrastructure.......................................................... 16
3.5 Finland, Power Market, Opportunities ............................................................................... 16
3.6 Finland, Power Market, Challenges ................................................................................... 17
4 Finland, Power Market, Market Analysis ................................................................................... 18
4.1 Finland, Power Market, Supply Structure .......................................................................... 18
4.2 Finland, Power Market, Key Market Players ...................................................................... 18
4.3 Finland, Power Market, Financial Deals ............................................................................ 19
4.3.1 Deal Volume and Value Analysis, 2004–2013 ............................................................... 19
4.3.2 Deals by Type, 2013 ..................................................................................................... 21
4.4 Finland, Power Market, Demand Structure ........................................................................ 22
4.4.1 Consumption by Sector, 2013 ....................................................................................... 25
5 Finland, Power Market, Regulatory Scenario ............................................................................ 26
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Table of Contents
FINLAND POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
5.1 Finland, Power Market, Key Electricity Policies ................................................................. 26
5.1.1 Finland, Power Market, Market Reforms ....................................................................... 26
5.1.2 Finland, Power Market, Renewable Energy Policy and Incentives................................. 26
5.1.3 Finland, Power Market, Energy Efficiency ..................................................................... 27
5.2 Finland, Power Market, Foreign Investment Scenario ....................................................... 28
6 Finland, Power Market, Capacity and Generation Overview ..................................................... 29
6.1 Finland, Power Market, Cumulative Installed Capacity by Power Plant Type, 2013 .......... 29
6.2 Finland, Power Market, Cumulative Installed Capacity and Annual Power Generation,
2000–2030 ........................................................................................................................ 30
6.2.1 Cumulative Installed Thermal Capacity and Annual Thermal Power Generation, 2000–
2030 ............................................................................................................................. 33
6.2.2 Cumulative Installed Hydropower Capacity and Annual Hydropower Generation, 2000–
2030 ............................................................................................................................. 37
6.2.3 Cumulative Installed Renewable Capacity and Annual Renewable Power Generation,
2000–2030 ................................................................................................................... 40
6.2.4 Cumulative Installed Nuclear Power Capacity and Annual Nuclear Power Generation,
2000–2030 ................................................................................................................... 45
7 Finland, Power Market, Transmission and Distribution Overview .............................................. 47
7.1 Finland, Power Market, Transmission Overview ................................................................ 47
7.2 Finland, Power Market, Distribution Overview ................................................................... 48
7.3 Finland, Power Market, Grid Interconnection .................................................................... 49
7.3.1 Electricity Import and Export Trends, 2000–2013 .......................................................... 50
7.4 Finland, Power Market, Electricity Trading ........................................................................ 51
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Table of Contents
FINLAND POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
8 Finland, Power Market, Competitive Landscape: Snapshot of Top Power Generating
Companies ............................................................................................................................... 52
8.1 Key Company in Finland Power Market – Fortum Corporation .......................................... 52
8.1.1 Fortum Corporation, Company Overview ...................................................................... 52
8.1.2 Fortum Corporation, Business Description .................................................................... 52
8.1.3 Fortum Corporation, SWOT Overview ........................................................................... 53
8.2 Key Company in Finland Power Market – Pohjolan Voima Oy .......................................... 60
8.2.1 Pohjolan Voima Oy, Company Overview ....................................................................... 60
8.2.2 Pohjolan Voima Oy, Business Description ..................................................................... 60
8.2.3 Pohjolan Voima Oy, SWOT Overview ........................................................................... 61
9 Appendix................................................................................................................................... 67
9.1 Market Definitions ............................................................................................................. 67
9.1.1 Power ............................................................................................................................ 67
9.1.2 Installed Capacity .......................................................................................................... 67
9.1.3 Electricity Generation .................................................................................................... 67
9.1.4 Electricity Consumption ................................................................................................. 67
9.1.5 Thermal Power Plant ..................................................................................................... 67
9.1.6 Hydropower Plant .......................................................................................................... 67
9.1.7 Nuclear Power............................................................................................................... 67
9.1.8 Renewable Energy Resources ...................................................................................... 68
9.2 Abbreviations .................................................................................................................... 68
9.3 Bibliography ...................................................................................................................... 69
9.4 GlobalData’s Methodology ................................................................................................ 70
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FINLAND POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
9.4.1 Coverage ...................................................................................................................... 70
9.4.2 Secondary Research and Analysis ................................................................................ 70
9.4.3 Primary Research and Analysis..................................................................................... 71
9.5 Disclaimer ......................................................................................................................... 72
1.1 List of Tables
Table 1: Power Market, Finland, Gross Domestic Product ($bn), Population (million), and Annual Power
Consumption (TWh), 2000–2019 ................................................................................................. 15
Table 2: Power Market, Finland, Market Share of Leading Power Generation Companies (%), 2013 ......... 19
Table 3: Power Market, Finland, Deal Value ($bn) and Number of Deals, 2004–2013 ............................... 21
Table 4: Power Market, Finland, Deals by Type (%), 2013 ........................................................................ 22
Table 5: Power Market, Finland, Annual Power Consumption (TWh), 2000–2030 ...................................... 24
Table 6: Power Market, Finland, Power Consumption by Sector (%), 2013 ................................................ 25
Table 7: Power Market, Finland, Foreign Direct Investment ($bn), 2009–2013 .......................................... 28
Table 8: Power Market, Finland, Cumulative Installed Capacity by Fuel Type (%), 2013 ............................ 30
Table 9: Power Market, Finland, Cumulative Installed Capacity (GW) and Annual Power Generation (TWh),
2000–2030 .................................................................................................................................. 32
Table 10: Power Market, Finland, Leading Active Thermal Power Units, 2013 ............................................. 34
Table 11: Power Market, Finland, Cumulative Installed Thermal Capacity (GW) and Annual Thermal Power
Generation (TWh), 2000–2030 .................................................................................................... 36
Table 12: Power Market, Finland, Active Hydropower Projects, 2013 .......................................................... 37
Table 13: Power Market, Finland, Cumulative Installed Hydropower Capacity (GW) and Annual Hydropower
Generation (TWh), 2000–2030 .................................................................................................... 39
Table 14: Power Market, Finland, Leading Active Renewable Power Plants, 2013 ...................................... 41
Table 15: Power Market, Finland, Upcoming Renewable Power Plants, 2014–2020 .................................... 42
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FINLAND POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
Table 16: Power Market, Finland, Cumulative Installed Renewable Power Capacity (GW) and Annual
Renewable Power Generation (TWh), 2000–2030 ....................................................................... 44
Table 17: Power Market, Finland, Active Nuclear Power Plants, 2013 ......................................................... 45
Table 18: Power Market, Finland, Upcoming Nuclear Power Plants, 2013 ................................................... 46
Table 19: Power Market, Finland, Transmission Line Length (Ckm), 2000–2020 ......................................... 48
Table 20: Power Market, Finland, Distribution Line Length (Ckm), 2000–2020 ............................................ 49
Table 21: Power Market, Finland, Annual Power Imports and Exports (TWh), 2000–2013 ........................... 51
Table 22: Power Market, Finland, Fortum Corporation, SWOT Analysis ...................................................... 54
Table 23: Power Market, Finland, Pohjolan Voima Oy, SWOT Analysis ....................................................... 62
Table 24: Abbreviations .............................................................................................................................. 68
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FINLAND POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
1.2 List of Figures
Figure 1: Power Market, Finland, Gross Domestic Product ($bn) and Population (million), 2000–2019 ....... 13
Figure 2: Power Market, Finland, Annual Power Consumption (TWh), 2000–2019 ...................................... 14
Figure 3: Power Market, Finland, Market Share of Leading Power Generation Companies (%), 2013 ......... 18
Figure 4: Power Market, Finland, Deal Value ($bn) and Number of Deals, 2004–2013 ............................... 20
Figure 5: Power Market, Finland, Deals by Type (%), 2013 ........................................................................ 21
Figure 6: Power Market, Finland, Annual Power Consumption (TWh), 2000–2030 ...................................... 23
Figure 7: Power Market, Finland, Power Consumption by Sector (%), 2013 ................................................ 25
Figure 8: Power Market, Finland, Cumulative Installed Capacity by Fuel Type (%), 2013 ............................ 29
Figure 9: Power Market, Finland, Cumulative Installed Capacity (GW) and Annual Power Generation (TWh),
2000–2030 .................................................................................................................................. 31
Figure 10: Power Market, Finland, Cumulative Installed Thermal Power Capacity (GW) and Annual Thermal
Power Generation (TWh), 2000–2030 ......................................................................................... 35
Figure 11: Power Market, Finland, Cumulative Installed Hydropower Capacity (GW) and Annual Hydropower
Generation (TWh), 2000–2030 .................................................................................................... 38
Figure 12: Power Market, Finland, Cumulative Installed Renewable Power Capacity (GW) and Annual
Renewable Power Generation (TWh), 2000–2030 ....................................................................... 43
Figure 13: Power Market, Finland, Annual Power Imports and Exports (TWh), 2000–2013 ........................... 50
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FINLAND POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
Introduction
2 Introduction
Finland, a highly developed market-based industrialized economy, had a per-capita output of $XX
in 2013, almost equivalent to other advanced European nations including the Netherlands,
Belgium, Sweden and Austria. It is primarily an export-oriented nation, and has a well-established
manufacturing sector specializing in engineering, metals, telecommunications and electronics.
Finland imports raw materials, energy and some manufacturing items. Agriculture and forestry
provide a source of occupation for the rural population.
Finland was not greatly affected by the global financial recession in 2008. However, the Eurozone
crisis in 2009 resulted in a drastic decline in exports and domestic demand. The economy was
negatively affected and the real Gross Domestic Product (GDP) growth for 2009 was a negative
XX%. The economy recovered in 2010, as a result of increased exports, domestic trade and
household consumption, but in the following year the European financial recession resulted in a
reduced export growth rate of XX%. This continued to affect the country’s GDP growth in 2012 and
2013, when rates of negative XX% and negative XX% were recorded, respectively. The challenge
facing policymakers is to mitigate the possible impact of recession in 2014 through the adoption of
measures to promote growth and development.
With an estimated GDP (at current prices) of $XX billion in 2013, the economy registered a
negative GDP growth rate of XX% in that year. The services sector contributed the highest share of
the country’s GDP with XX% in 2013, followed by the industrial sector with XX%. The remaining
XX% was contributed by the agriculture sector. The country’s main trading partners include
Sweden, Germany, Russia, the Netherlands, the UK, the US and China (CIA, 2013).
The Ministry of Employment and the Economy is responsible for policy making in the Finnish
energy sector. The Energy Market Authority (EMA) works under the direct supervision of the
Ministry and monitors activities related to the electricity and natural gas markets. The government
is focusing on the development of renewable energy plants in order to reduce its increasing
dependence on thermal power sources. In line with the EU objective relating to renewable energy,
the government set a target to achieve a XX% renewable energy share in the country’s total energy
consumption by 2020. In 2011, the government implemented the Production Subsidy Act, to ensure
that Feed-in Tariffs (FiT) and a fixed subsidy were made available to all renewable energy plants.
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FINLAND POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
Introduction
2.1 GlobalData Report Guidance
The executive summary captures the key growth trends in the Finnish power market.
Chapter three provides a snapshot of the key parameters that affect Finland’s power sector, as
well as key points about the country’s power market.
Chapter four provides a power market analysis for Finland.
Chapter five provides details of the regulatory scenario for the power market, and the inward
foreign investment scenario in Finland.
Chapter six provides information regarding Finland’s cumulative installed capacity and annual
generation trends, as a whole and also by individual generation source.
Chapter seven describes the power Transmission and Distribution (T&D) infrastructure in
Finland, and includes information on interconnections with neighboring countries. The section
also covers electricity imports and exports, and upcoming grid-related projects in Finland.
Chapter eight provides complete descriptions and SWOT analyses of the leading power
generating companies.
Note: all 2013 market numbers provided in the report are estimates, except where actual data were
available.
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Snapshot
FINLAND POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
3 Finland, Power Market, Snapshot
3.1 Finland, Power Market, Macroeconomic Factors
The Finnish economy registered steady growth until 2008. In 2009, the Eurozone crisis impacted
the economy, resulting in a drastic decline in exports and domestic demand. Finland’s GDP (at
constant prices) declined XX% in 2009 and XX% in 2010. Although the economy picked up by
XX% in 2011, growth declined again in 2012 by XX%. The economy picked up in 2013 with
marginal growth of XX%, primarily due to a stimulus package from the government, and is
expected to continue to grow during the 2014–2019 forecast period at a Compound Annual Growth
Rate (CAGR) of XX%.
In Finland, the residential sector is one of the largest consumers of electricity. The population
registered negligible growth from 2000 to 2013, from XX million in 2000 to XX million in 2013. The
economy was turbulent from 2008 to 2011, and this affected the industrial and construction sector,
which is larger than the residential sector in terms of electricity consumption. In light of this, it is
easy to understand why electricity consumption declined by a negative average annual rate of
XX% between 2008 and 2011, and by a negative average annual rate of XX% between 2008 and
2013.
Finland’s electricity consumption amounted to XX Terawatt hours (TWh) in 2000, and increased to
XX TWh in 2013 at a CAGR of XX%. With the economy coming out of the recessionary phase in
2014, power consumption is expected to continue to increase and, by 2019, is expected to reach
XX TWh, increasing from XX TWh in 2014 at a CAGR of XX%.
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Snapshot
FINLAND POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
Figure 1: Power Market, Finland, Gross Domestic Product ($bn) and Population (million), 2000–2019
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Pop
ulat
ion
(mill
ion)
GD
P ($
bn)
GDP (constant prices) Population
Source: GlobalData; IMF, 2014
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FINLAND POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
Market Analysis
4.4.1 Consumption by Sector, 2013
The industrial and construction sector is the largest power-consuming sector in Finland. In 2013, it
accounted for an estimated XX% of total power consumption. This was followed by the residential
and agricultural sector with XX%, and services and other smaller sectors, which accounted for
XX%.
Figure 7: Power Market, Finland, Power Consumption by Sector (%), 2013
Industrial and construction
Residential and agricultural
Services and others
Source: GlobalData
Table 6: Power Market, Finland, Power Consumption by Sector (%), 2013 Sector Share
Industrial and construction
Residential and agricultural
Services and others
Source: GlobalData
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Appendix
FINLAND POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
9 Appendix
9.1 Market Definitions
9.1.1 Power
Power refers to the rate of production, transfer or energy use, usually related to electricity. It is
measured in Watts (W) and often expressed in kilowatts (kW) or Megawatts (MW). It is also known
as real power or active power.
9.1.2 Installed Capacity
Installed capacity refers to the generator’s nameplate capacity as stated by the manufacturer, or
the maximum rated output of a generator under given conditions. It is given in Megawatts (MW) on
a nameplate affixed to the generator.
9.1.3 Electricity Generation
Electricity generation refers to the process of generating electricity from other forms of energy. It
also refers to the amount of electricity produced, expressed in Gigawatt hours (GWh).
9.1.4 Electricity Consumption
Electricity consumption is the sum of electricity generated, plus imports, minus exports and
transmission and distribution losses. It is measured in Gigawatt hours (GWh).
9.1.5 Thermal Power Plant
This refers to a plant in which turbine generators are driven by burning fossil fuels.
9.1.6 Hydropower Plant
This refers to a plant in which the turbine generators are driven by falling water.
9.1.7 Nuclear Power
This refers to the electricity generated by the use of thermal energy, released from the fission of
nuclear fuel in a reactor.
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Appendix
FINLAND POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
9.1.8 Renewable Energy Resources
Renewable energy resources are those that provide energy that is naturally replenished but limited
in the amount of energy available per unit of time. Biomass, geothermal, solar, small hydro and
wind are examples of renewable resources.
9.2 Abbreviations
Table 24: Abbreviations BWR Boiling Water Reactor
CAGR Cumulative Average Growth Rate
CCGT Combined-Cycle Gas Turbine
Ckm Circuit kilometers
DC Direct Current
EMA Energy Market Authority
FDI Foreign Direct Investment
FiT Feed-in Tariff
Fortum Fortum Corporation
GDP Gross Domestic Product
GHG Greenhouse Gas
GW Gigawatt
kV kilovolt
kW kilowatt
MW Megawatt
PV Photovoltaic
TVO Teollisuuden Voima Oyj
TWh Terawatt hours
T&D Transmission and Distribution
Source: GlobalData
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Appendix
FINLAND POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
9.3 Bibliography
CIA (2013). Europe: Finland. Central Intelligence Agency. Available from:
https://www.cia.gov/library/publications/the-world-factbook/geos/fi.html [Accessed on October
22, 2014]
EC (2012). Electricity interconnection Finland - Estonia (Estlink-02). European Commission.
Available from: http://ec.europa.eu/energy/eepr/projects/files/electricity-
interconnectors/estlink2_en.pdf
EMA (2011a). Renewable Energy. Energy Market Authority. Available from:
http://www.energiamarkkinavirasto.fi/alasivu.asp?gid=445&languageid=826 [Accessed on
October 22, 2014]
EMA (2011b). Annual Report to the European Commission Finland. Energy Market Authority.
Available from:
http://www.energiamarkkinavirasto.fi/files/Annual_Report_2011_Finland_15072011.pdf
Fingrid (2012). Nordic power system and interconnections with other systems. Finnish Power
Grid. Available from:
http://www.fingrid.fi/en/powersystem/general%20description/Nordic%20power%20system%20a
nd%20interconnections%20with%20other%20systems/Pages/default.aspx [Accessed on
October 22, 2014]
IMF (2014). World Economic Outlook Database. International Monitory Fund. Available from:
http://www.imf.org/external/pubs/ft/weo/2014/02/weodata/index.aspx [Accessed on October 22,
2014].
OECD (2014). OECD FDI in Figures, 2014. Organisation for Economic Co-operation and
Development. Available from: http://www.oecd.org/investment/FDI-in-Figures-April-2014.pdf
Prusila J and Puikkonen I (2012), via Comisión Nacional de Energía. Energy Law in Finland.
In: European Energy Review. Herbert Smith. Available from: http://www.cne.es/cgi-
bin/BRSCGI.exe?CMD=VEROBJ&MLKOB=609743965757 [Accessed on October 22, 2014]
Reuters (2012). Finland plans windfall tax on nuclear, hydro plants in 2014, Reuters, Available
from: http://in.reuters.com/article/2012/09/11/hold-finland-utilities-windfall-
idINL5E8KB63L20120911 [accessed on October 22, 2014]
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Appendix
FINLAND POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
Statistics Finland (2011). Appendix figure 6: Electricity consumption by sector 1970–2010.
Statistics Finland. Available from: http://www.stat.fi/til/ekul/2010/ekul_2010_2011-12-
13_kuv_006_en.html [Accessed on October 22, 2014]
9.4 GlobalData’s Methodology
GlobalData’s dedicated research and analysis teams consist of experienced professionals with
advanced statistical expertise and marketing, market research and consulting backgrounds in the
energy industry.
GlobalData adheres to the codes of practice of the Market Research Society (www.mrs.org.uk) and
Strategic and Competitive Intelligence Professionals (www.scip.org).
All of GlobalData’s databases are continuously updated and revised. The following methodology
has been followed for the collection and analysis of data presented in this report.
9.4.1 Coverage
This report gives detailed information on Finland’s power market. It examines the market structure
and provides historical and forecast numbers for generation, capacity and consumption up to 2030.
The report provides insights on the market’s regulatory structure, import and export trends,
competitive landscape, and leading active and upcoming power projects.
9.4.2 Secondary Research and Analysis
The research process begins with extensive secondary research using GlobalData's proprietary
databases and external sources.
The capacity, generation and consumption data is collected and validated using a number of
secondary resources, including, but not limited to:
Government agencies, ministerial websites, industry associations, the World Bank, statistical
databases
Company websites, annual reports, financial reports, broker reports and investor presentations
Industry trade journals, market reports and other literature
GlobalData’s proprietary databases, including the Capacity and Generation Database, the
Power Plant Database and the Transmission and Distribution Database.
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Appendix
FINLAND POWER MARKET OUTLOOK TO 2030, UPDATE 2014 – MARKET TRENDS, REGULATIONS AND COMPETITIVE LANDSCAPE
Further to this, the following secondary information is collected and analyzed to project Finland’s
power market scenario through to 2030, analyzing factors such as the following:
Finland’s macro-economic scenario
Government regulations, policies and targets
Government and private sector investments
Contract and deal announcements
Utility expansion plans
The sector’s historic track record
Other qualitative insights built through secondary research and analysis of company websites,
annual reports, investor presentations, industry and trade journals, and data from industry
associations.
9.4.3 Primary Research and Analysis
GlobalData conducts extensive primary interviews with industry participants and commentators in
order to validate its data and analysis.
A typical research interview fulfills the following functions:
Obtains the interviewee’s perspective on the market size, growth trends, competitive landscape
and future outlook
Validates secondary research findings
Further develop the analysis team’s expertise and market understanding
The participants are drawn from a diverse set of backgrounds, including equipment manufacturers,
industry associations, government bodies, utilities, distributors, and academia. The participants
include, but are not limited to, C-level executives, industry consultants, academic experts, business
development and sales managers, purchasing managers, plant managers, government officials,
and industry spokespeople.
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Appendix
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9.5 Disclaimer
All Rights Reserved.
No part of this publication may be reproduced, stored in a retrieval system or transmitted in any
form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior
permission of the publisher, GlobalData.