The Electricity Users of Finland (ELFi) encourages the systematic development of the electricity market in a direction where electricity prices are formed on the basis of transparent and open competition.
It is sometimes forgotten that competition must function under all circumstances, including during periods of low wind. Market prices must form logically even when production is limited, so that electricity prices do not become unreasonably high for industry and consumers. Electricity is not a luxury product but a basic commodity. We support the view that any potentially high price offers must always have a cost-based justification. In contrast to bilateral fixed-price purchase agreements, an open market relies on trust; therefore, the mechanisms governing electricity pricing must be clear and logical. The end result—the market price—must therefore be grounded in genuine competition.
In recent months, balancing electricity prices have fluctuated unusually widely. There remains considerable room for improvement in this market. One of the most significant areas for development is greater price transparency. Real-time and transparent balancing electricity prices would allow all market participants to respond in ways that support the electricity system, while also improving their ability to optimise their own operations.
ELFi fully agree with the Parliament of Finland that bids submitted to the electricity exchange and the balancing market should be accessible to researchers. A suitable confidentiality period for bid data could be 18 months. After this period, researchers could freely and objectively evaluate and analyse market operations and propose improvements to current practices. Such research-based insights would not only promote fair competition but also increase consumer trust in the markets and support sustainable energy policy.
The Electricity Users of Finland works actively to ensure that electricity price formation is fair, competitive, and transparent. Progress toward these objectives benefits all participants — including us, the electricity users.