Fortum will raise prices throughout the country, but most of all in the Helsinki suburban area of Espoo.
Fortum claims it is one of the last major power companies in Finland to raise prices. On Monday, two more followed suit, as utilities based in Vantaa and Tampere also announced rate hikes.
Customers are reacting by looking for power suppliers with lower rates. A law that took effect in 1998 made it easier for households to compare electricity suppliers' prices and switch from one to another, no matter where they're located.
The simplest way to compare costs is via a website run by the Energy Market Authority, which operates under the Ministry of Trade and Industry. The site is so far only available in Finnish and Swedish. The number of people using the site has exploded in recent days, with up to 10 times as many visitors. On Monday the agency had to move the site to a different server to cope with the surge in interest. Seppo Äikäs, with a typical family home in Espoo, has calculated that his electricity bill will go up by 180 euros next year if he stays with Fortum -- which he says is unlikely. Trade Minister Summons Energy Bosses Fortum has so far declined to say whether the price hike has affected its number of customers. However many are clearly angry, particularly at the timing -- just as people are starting to put up lights and start baking for the holidays. Fortum has already earned the ire of the public in the past year or so with its takeover of the old Espoo energy company and the record-high options paid to executives such as CEO Mikael Lilius, who had Finland's highest income last year. On Tuesday afternoon Minister of Trade and Industry Mauri Pekkarinen meets with Lilius and other top energy executives to discuss electricity prices and supply. YLE24