ANNUAL REPORT 2024

The annual report consists of five separate reports:

-Report of the Board of Directors and Financial Statements
-Corporate Governance Statement
-Remuneration Report
-Fingrid in 2024

Strong development of the grid continues

The development of Finland’s main electricity grid continued vigorously in 2024. The need for electricity transmission and grid connection continued to grow rapidly, and Fingrid’s grid investments increased to a record level. Overall, 2024 was an excellent year in terms of both internal and external metrics.

Report of the Board of Directors and Financial Statements

Governance

Remuneration report

Fingrid in 2024

Fingrid in figures 2024

Electricity transmission reliability rate

99.9995

Transmission lines

14,700

Turnover

1,269.3

M€

Renewable energy was connected to the grid

1,600

megawatts

Electricity transmitted in the main grid

73.0

TWh

Personnel

597

Fingrid employees’ promoter score

+74

eNPS

Customer recommendation

+60

NPS

Review by the President & CEO

The development of main electricity grid continued vigorously in 2024. Capital expenditure increased from the previous year to half a billion euros. Finland offers an attractive location for investments in clean electricity production and consumption. The security of sea-bed infrastructure came into focus with the EstLink2 cable failure.

Responsibility in Action

Recycled structural steel used in substations

We are taking a major step towards more sustainable construction methods by procuring for the first time low-emission steel structures for new substations.

Proven good energy – as one team

We applied for and received MIELI Mental Health Finland’s Hyvän Mielen Työpaikka recognition in summer 2024. The recognition is valid until May 2025.

Green corridors for flying squirrels

Green corridors help protect the flying squirrel by securing a route which provides the squirrel access across a wide right-of-way consisting of several transmission lines.

Technical solution to improve the reliability of a wind-dominated grid

Substations located on the west coast and in southern Finland received static synchronous compensators, which will improve the system security of the wind-power-dominated grid.