The price of electricity plays a key role in the realization of future investments by Finnish industrial companies, according to a survey conducted by Aula Research. The majority of survey respondents see that it is important for the company’s operations to increase the production of clean and renewable electricity in Finland. Wind power is considered an important part of Finland’s energy palette: almost half of the respondents feel that their company will benefit if wind power production is increased in Finland in the future.
The price of electricity has a significant impact on the realization of future investments, says 55 percent of the company management of the industrial companies that participated in the survey. The survey was aimed especially at industrial companies with a large turnover. The combined investment potential of the participating companies is significant: in the next few years, around 340 million euros of investments aimed at building new production or developing existing production will pass through the companies.
In addition to cheap electricity, emission-free electricity is also important: The majority (62%) of respondents see that it is very or fairly important for the company’s business to increase clean and renewable electricity production in Finland. Almost half of business leaders (46%) see that their company would also benefit if more investments were made in Finland specifically to increase domestic wind power production.
“Industrial companies clearly have a need for affordable electricity, but there is also an order for renewable energy and increasing energy self-sufficiency. Wind power is currently the only form of electricity production that can increase domestic energy production quickly and affordably. Industry leaders were also asked whether there should be more investment in wind power in Finland in particular, and happily more than half were of the same opinion,” says Anni Mikkonen, CEO of the Finnish Wind Power Association, and adds: “It is important that the needs of industry that uses electricity and the view of business leaders are also taken into account in the current in government program negotiations.”
Large companies most dependent on price and most interested in origin
Especially the companies with the largest turnover are investing in the development of existing production facilities as well as in new production facilities. The price of electricity is also particularly important for the companies with the largest turnover: more than 70 percent of the companies in the two largest turnover categories considered the price of electricity to be of great or moderate importance to the realization of their future investments. Almost all managers of large industrial companies considered the affordability of electricity in general to be very or fairly important to the company’s operations.
The importance of zero emissions in the electricity used by the company also grew as the company’s turnover grew. More than 80 percent of the management of companies with the largest turnover saw increasing clean and renewable electricity production as very or fairly important for the company’s business.
The survey for the decision-makers of industrial companies was carried out by Aula Research on behalf of the Finnish Wind Power Association. The aim of the survey is to find out the views of business decision-makers in the industrial sector on electricity production in Finland and how they see the role of wind power in Finnish electricity production and in terms of their own company’s operations. The data was collected from 11.5.-19.5.2023 with an electronic survey and telephone interviews. The survey was answered by 204 business decision-makers from sectors of the manufacturing industry, such as the metal and chemical industries.