Energy efficiency agreement
The Federation of Finnish Technology Industries is a signatory to the new energy efficiency agreement that covers the period from 2008 to 2016. The agreement was prepared within the framework of the EU Energy Services Directive, which sets reference targets for the energy efficiency of industry. The scheme is based on voluntary agreements in which companies undertake to improve their energy efficiency.
The technology industry’s objective is to achieve a 9 % improvement from the level in 2005 by 2016. Companies may apply for grants from the Ministry of Employment and the Economy to conduct energy audits, the objective of which is to identify areas where energy efficiency can be improved. Although companies make their investment decisions independently, they may also receive government subsidies for their investments.
It is estimated that electricity consumption in Finland will grow to 107 terawatt hours by 2020. Energy-efficiency measures have been taken into consideration in this estimate, and growth is expected to decelerate significantly. Between 1997 and 2006, electricity consumption grew by about 2.6 % a year. In the period from 2007 to 2020, growth is expected to slow down to 1.2 % a year.
In other words, compared with the 2007 level, electricity consumption will grow by some 17 terawatt hours. Olkiluoto 3, the new nuclear power plant unit currently under construction, will generate some 13 terawatt hours per year, so the additional power it produces will not be enough to cover the increase.
Energy Consumption by Sector in Finland in 2008 (PDF, 1 page)
Electricity Consumption by Sector in 1990-2030 (PDF, 1 page)
