Central government debt management

Well prepared for energy transition

Finland’s energy mix is well diversified with renewables accounting for 43%, nuclear energy for 26% and fossil fuels and peat for 29% of the total energy consumption. In Finland, the share of renewable sources of energy is the second highest in the EU. Renewable forms of energy production surpassed the use of fossil fuels in the 2020s.

Finland is practically self-sufficient in electricity production. Domestic production has increased significantly in the past few years and in 2024, it covered already 96% of Finland’s electricity demand. The demand was largely covered by hydro power, wind power and nuclear power. Thus, 95% of Finland’s electricity consumption in 2024 was fossil-free.

Nuclear energy is an important part of Finland’s energy mix. The volume of nuclear power in Finland’s electricity production increased significantly in 2023 as the fifth reactor, Olkiluoto 3, was in use for the first full year. In 2024, the majority (39%) of electricity production was based on nuclear power.

Greenhouse gas emissions are steadily decreasing

According to preliminary data, in 2024 Finland’s greenhouse gas emissions decreased by 6% compared to the previous year. Emissions are falling especially in energy and heat production within the emissions trading sector, where emissions dropped by 14%. The clean energy transition is progressing fast: in 2024, coal use nearly halved and peat use decreased by over a third compared to the previous year. As a result of the act banning coal for energy use, Finland stopped using coal for energy production in spring 2025. Combustion-based electricity production has decreased, while wind and nuclear power have grown significantly.

Finland’s total emissions (without the land use sector) have fallen by 46% from the comparison year 1990 and by 55% from 2003, when emissions were at their highest during the 1990 to 2023 time series. Over the past five years (2019-2024), Finland’s total emissions have decreased by an average of 6% annually.

For more facts on Finland and energy, have a look at this short video (from 2022).

Energy transition

Well prepared for energy transition

Greenhouse gas emissions are steadily decreasing

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