Finland said it has started building hot water storage facilities to save money
Finland has started building a record number of hot water storage facilities in the form of large water towers to help energy companies capitalize on fluctuations in electricity prices. This was reported by Finnish broadcaster Yle on January 22.
In these tanks, water is heated when electricity prices fall and returned to the district heating network when electricity prices rise.
One such storage facility with a volume of 10,000 cubic meters will be commissioned in Lappeenranta. The facility is an insulated steel tank with a height of up to 40 meters, which acts as a thermos. It cost about €5 million and is planned to be commissioned by the beginning of summer.
According to Lappeenranta Energia CEO Arto Nikkanen, the hot water storage facility gives the company the opportunity to make money even when electricity is expensive on very cold days. He also noted that the country's biofuel market has changed since the Russian border was closed, with the price of fuel almost doubling in a few years.
Earlier in the day, it was reported that Italy was taking steps to increase gas reserves amid fears that prices would remain high for a long time. Italy is home to the European Union's (EU) second-largest storage facilities after Germany. Energy Minister Gilberto Pichetto-Fratin told a parliamentary hearing that authorities plan to auction gas storage space for next winter as early as February.
Earlier on December 21, 2024, Finnish Prime Minister Petteri Orpo said that the border with Russia will remain closed until a way is found to conclude an agreement to open border posts. Orpo added that there is no consensus on the issue at the moment. He emphasized that Finland will open the border if Russia does not send migrants without the necessary documents.
Before that, on December 15, the organization of Russian-speaking residents of Finland "Alexander Society" held rallies in several cities of the country for the opening of checkpoints (checkpoints) on the border between the Scandinavian state and Russia. Svetlana Zhurova, deputy chairman of the State Duma (Duma) Committee on International Affairs, commenting on the situation, said that the Finnish authorities would probably not pay attention to the rallies in cities in favor of opening borders with Russia.
In November 2023, Finland closed all checkpoints on the border with Russia under the pretext of an influx of migrants from third countries. At the time, Russian Foreign Ministry spokeswoman Maria Zakharova noted that Moscow was ready to work with Helsinki to resolve the situation.
