Finland’s new Natural Gas Market Act enters into force at the beginning of 2018

Finland’s new Natural Gas Market Act enters into force on January 1, 2018. As a general rule, the gas market will operate in the current manner until the opening of the market. The Finnish market will be opened at the beginning of 2020.

The Natural Gas Market Act that enters into force in January will not have a significant impact on gas market operations at this point. The new Act will reduce regulation of natural gas wholesale and retail operations and, to a large extent, abolish special regulation concerning pricing. The provisions concerning the unbundling of the transmission system operator (TSO) and the opening of the natural gas market to competition enter into force on January 1, 2020.

The changes brought by the legislative reform will be implemented in a manner whereby Gasum will ensure the preservation of the competitiveness of natural gas. The company is well-prepared for the change and will do its best to ensure a smooth transition into an open market during the changeover period. In the context of opening the market, Finland will waive its right to derogate from some of the requirements of the EU’s Internal Market in Natural Gas Directive. This will result in the unbundling of the Gasum-owned gas transmission network and gas sales.

In addition to the reformed Act, the market opening will also require rules and procedures agreed by the sector. Gasum is coordinating the gas market rules formulation process in cooperation with customers and other stakeholders.

For more information please contact:
Jouni Haikarainen, Senior Vice President, Natural Gas, Gasum Ltd
Phone: +358 40 709 56 90, firstname.surname(a)gasum.fi