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    Finland to launch 10 billion euro energy support plan

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    Helsinki, September 14 The Finnish Parliament approved a government supplementary budget on the 14th, providing 10 billion euros of loans and guarantees for the country’s power companies to resolve high electricity prices. The liquidity risk brought by enterprises ensures the effective operation of the electricity market.

    The Finnish government announced the above plan on the 4th and submitted it to the parliament for consideration on the 5th. The Finnish government said the scheme, aimed at companies that play a key role in Finland’s electricity market, will provide a last-ditch financing option when they are at risk of bankruptcy, with repayment terms of no more than two years.

    Finnish Minister of Economic Affairs Mika Lintile previously stated that the government will take measures under the current situation to avoid a liquidity crisis in the energy market.

    Recently, Europe has been caught in an energy dilemma, and the electricity market is under enormous pressure. According to Finnish media reports, as electricity prices continue to soar, many Finnish power companies that hedge the risk of electricity price fluctuations through futures trading need to increase hundreds of millions or even billions of euros in guarantees, and liquidity tends to be tight.

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