On Thursday, the Finnish government submitted a proposal to parliament that could result in electricity bills tumbling by hundreds of euros.
The proposal included calls to cut the revenues of distribution companies by amending the Electricity Market Act. The regulator had allowed companies to raise prices in order to reduce the risk of blackouts, after a series of weather-related power cuts.
However an Yle investigation last year revealed that steep increases in electricity transfer prices were not being spent on storm-proofing power lines, as companies claimed and the Energy Authority intended when adjusting the prices they could charge.
According to the Ministry of Employment and the Economy, changes in the law may reduce electricity transfer fees by tens, hundreds or even thousands of euros a year, depending on the customer and their power company.
Changes won't be imminent
The proposal calls for the annual increase cap of electricity transfer prices will be lowered to eight percent from the current 15 percent.
Minister for Economic Affairs Mika Lintilä (Cen) told Yle on Thursday that the effects will not be immediate, and customers will not notice a difference in their next electricity bill yet.
"The changes should become apparent sometime from this year to the end of the decade," he said.