Supplementary budget proposal to secure the effective functioning of the electricity market

The Government is proposing a EUR 10 billion loan and guarantee scheme for the energy sector. The aim is to ensure that energy companies can function through the current exceptional situation and to secure the effective functioning of the electricity market.

The proposed central government scheme is a last-resort financing option for companies that would otherwise be at risk of insolvency. This being the case, the terms and conditions of the loan scheme are strict. The terms and conditions have been included as an appendix to this press release in Finnish.

The related budget authority is included in the proposal for a third supplementary budget, which the Government submitted to Parliament on Monday 5 September.

Inquiries:

Pauli Kariniemi, Director-General, tel. +358 295 530 210, pauli.kariniemi(at)gov.fi

Mika Niemelä, Director-General of the Budget Department, tel. +358 295 530 525, mika.niemela(at)gov.fi