In February, electricity consumption in Finland was exceptionally high, totaling 8,822 gigawatt hours, marking a 13% increase compared to the previous year and the highest consumption recorded for any February. This surge in demand was primarily attributed to the need for heating due to severe cold temperatures experienced throughout the month. A peak was recorded on February 1st, when consumption surged to 15,528 megawatts between 6 PM and 7 PM, establishing a new record for that hour.

Energiateollisuus, the Finnish Energy Industries, also conducted a survey among electricity sellers regarding the proportions of different types of electricity contracts during February and March. The survey revealed minor changes compared to the previous year, with the share of pure spot contracts slightly decreasing from 28% to 26%. Meanwhile, hybrid contracts, which are defined by fixed starting prices or include an option for fixed pricing but are partially influenced by market prices, saw an increase in popularity among consumers.

Moreover, the overall proportion of contracts fully or partially dependent on market prices remained stable at 45%. Despite the severe winter and increased electricity demand, the market dynamics and the distribution of electricity contracts in Finland have shown some stability, reflecting consumer adaptability and potentially a trend toward more flexible pricing models as cold spells persist.