FINLAND'S ENERGY CRISIS

BLOOMBERG - Aug 25, 2022 - The worst energy crisis in decades is hitting the wallet of Finland’s Economy Minister Mika Lintila, whose power rate recently jumped by 463%, according to newspaper Ilta-Sanomat.

Lintila has electrical heating at home, which is typically the most expensive way to warm up houses in the Nordic country and beyond. He now pays 49 euro cents per kilowatt-hour, up from 8.7 cents previously, Ilta-Sanomat reported on Wednesday.

“We’re talking about an increase of several thousands of euros just during the coming winter,” Lintila said, according to the newspaper. “I can survive that, of course. But even for middle-class families it’s going to be tough,” he said.

Finland’s government is set to consider targeted measures next week for helping those worst hit by the crisis. Households in the Nordic country have already been told to prepare for rolling power cuts in the winter, as there will be no supplies from Russia to help meet peak demand.

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