Finnish govt proposes 10 bn euro crisis package for energy companies

Finnish government has proposed to provide the country’s electricity companies with loans and guarantees of up to 10 billion euros ($10 billion) to secure the sufficiency of their cash resources.

Finance Minister Annika Saarikko said at a government press conference on Sunday afternoon that with the pledge, the government wants to “calm down the electricity futures, or derivatives market and to secure the availability of electricity in Finland in all circumstances”.

“The state could grant loans or guarantees on a case-by-case basis to companies whose continued operations are critical to the functioning of society,” said Prime Minister Sanna Marin at the press conference.