Finland will stabilize the power market through the 10 billion euro plan

Since the outbreak of the Russian -Ukraine conflict, European countries have imposed several rounds of sanctions on Russia with the U.S. footsteps, and they were severely rejuvenated.On September 4, local time, the Finnish government announced that it would provide the country's power company with a loan and credit guarantee of 10 billion euros to ensure that its cash and resources were sufficient and avoiding its crisis.

Finnish Treasury Minister Sarco said the government hopes that this move can stabilize the country's power market and ensure that Finland's power supply is sufficient.The Finnish government will submit this stable power market to parliament on the 5th.

Due to the rapid rise in the price of the Nordic power market, there is a book loss in the power futures contracts of many Finnish power companies, forcing them to find funds to provide additional mortgage to the exchange.

Source: CCTV News Client

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