The high peak in electricity price is causing production limitations in factories, the Finnish Broadcasting Company YLE tells. Ovako's factory in Imatra has been shut down during Christmas and in January because of the electricity price.

According to factory manager Heikki Nyholm the factory had no other choice than shutting down the factory earlier before the weekend because of the very high price on the market electricity.

Behind the high prices lies the high consumption during the cold weather and the regular service stops at the Swedish nuclear power plants at the same time, says the Finnish ELFi's managing director Antti Koskelainen.

Last year the average price per megawatt hour (MWh) was 37 euro. According to the ELF the northern markets highest price was at the 17th of December 2009 when the wholesale price on electricity was 1400 euro per MWh. The estimates of ELFi tells that the top prices on electricity during the winter will cost Finnish consumers 160 million euro.

According to Koskelainen at least Outokumpu and the zink plant Boliden have been forced to limit the production. The production at Ovako's plant has been limited otherwise as well, because the demand on the factory's products for the vehicle and machinery industry is still weak. The factory will be closed for one week in January and is running only 3-4 days weekly from the end of the month.

YLE reports that Finland is importing 15-20 percent of the electricity required yearly.

>> Ovako is one of Fennovoima's 64 shareholders. The purpose for the shareholders of Fennovoima is to gain own electricity production to a fair self cost price.