Järvisydän in Rantasalmi shifts to market electricity rates amid soaring costs in Finland

The tourism company Järvisydän, located in Rantasalmi, is a significant consumer of electricity, with a sprawling infrastructure that includes a spa and 500 beds. Two years ago, their annual consumption was 6.5 million kilowatt-hours, costing approximately 400,000 euros due to a fixed-rate electricity contract at six cents per kilowatt-hour. As the fixed-rate contract was nearing expiration, the company faced a tough decision, as market prices had surged past one euro per kilowatt-hour, and new fixed contracts were pricing kilowatt-hours at tens of cents. The only viable option became purchasing electricity at market rates.

To enhance efficiency, Järvisydän optimized its electricity usage and invested heavily in green energy initiatives, as CEO Markus Heiskanen stated. In just two years, electricity consumption dropped by 35%. Based on previous usage, the electricity bill would now be around 750,000 euros annually. Following their energy-saving efforts, the new bill is expected to be 550,000 euros.

An optimization system was implemented to monitor moments of high electricity production and consumption, allowing the company to minimize costs effectively. “We simply avoid using electricity when prices are high and take advantage when it’s low,” noted Heiskanen.

In a bid for further efficiency, the company installed a geothermal heating system through a 300-meter-deep well and set up solar panels. When accommodations are vacant, thermostat settings are dropped, and all new and renovated lodgings will feature heat-retaining heaters that charge when electricity is cheap. Järvisydän’s largest electricity consumer remains water heating, accounting for a quarter of the 4.5 million kWh total consumption.