Situational picture of security of supply: no change to security of supply situation
There have been no major changes to the situational picture in the last two weeks. The main concerns in general are accelerating inflation and the price of energy. The power grid’s situation is normal, but the status of the electricity supply will be more uncertain than usual this coming winter, which is raising concern among companies.
Forming a common situational picture is key with regard to decision-making during crises and disruptions. The National Emergency Supply Agency (NESA) maintains an overall picture of security of supply to support the decision-making of the private sector and the Finnish government.
The situational picture report includes an overview of different industries’ ability to function and the challenges they may face. The overall picture formed together with the National Emergency Supply Organisation (NESO) examines the challenges in the operating environment from several perspectives.
The situational picture of security of supply has now been being kept up to date for approximately two and a half years. A new situational picture is published every other week.
Situational picture on 9 September: Companies concerned about inflation, and price and availability of energy
Steps are being taken to secure Finland’s domestic electricity generation and increase demand response as necessary, but Finland is also preparing for the possibility of a power shortage next winter. A power shortage would cause significant financial loss and production stoppages for companies.
The Russian invasion of Ukraine, combined with the global impacts of the COVID-19 pandemic, are affecting several sectors of security of supply, but these impacts on security of supply have been very manageable so far. Delivery times are long and costs continue to increase in most industries. There continue to be issues in the availability of raw materials, components, spare parts and other materials.
The significant increase in fuel prices continues to affect all modes of transport, which in turn increases the prices of products at a general level.
Companies are concerned about the availability and increasing price of energy, accelerating inflation and potential decline in consumer demand in the present situation, which is already challenging as is.
The situational picture remains split. On the one hand, many things seem to have settled down during summer 2022. On the other hand, the future combined effects of various factors are difficult to anticipate, which is why changes to the situation may be quick and surprising.
The National Emergency Supply Agency releases a brief summary of the situational picture report. The details concerning industries are classified and are therefore not made public.