Finnish energy firm faces €9 million fine for disrupting electricity market

The Finnish Energy Authority has proposed a fine of over €9 million for Kinect Energy Sweden after the company’s error caused a major disruption in Finland’s electricity market in late 2023, state broadcaster Yle reports.

In November 2023, the firm accidentally offered such a large volume of electricity on the Nord Pool exchange that prices plunged deeply into negative territory for several hours. The incident is now under review by the Market Court for alleged market manipulation.

The Energy Authority’s proposed penalty follows an investigation into the incident, which temporarily distorted pricing in the Finnish electricity market. A final decision will be made by the Market Court.