Minister of Economic Affairs Olli Rehn, whose portfolio includes energy issues, says he has asked the Finnish Energy Authority to look into recently-announced steep increases in electricity transfer prices.
These fees make up about one third of most customers' electricity bills – and the companies have regional monopolies, meaning customers cannot switch firms, as they can electricity suppliers.
Last week companies including Caruna and Helen announced price rises to take effect this spring.
"We are evaluating what possible actions can be taken," Rehn told Yle on Monday. "One alternative under consideration is whether we can place some kind of cap or maximum on one-time price increases."
Rehn says he has called on the Energy Authority to find out what basis the power grid companies have decided on such sharp rate hikes. The study is to be completed around the middle of this week.
The country's biggest power network company, Caruna, said late last week that it will raise prices as of the beginning of March.
Confusing information
Caruna's average rate increase will be 27 percent – meaning some customers will see significantly more than that.
Some consumers say they have received confusing information about the size of the increase from the company, accusing it of including taxes to make the rises seem lower.
Caruna has more than 600,000 customers around Finland – who have no choice regarding this essential service.
Caruna says the increase is necessary to finance investment in its distribution system, including measures to protect it against storms.
Two years ago majority state-owned utility Fortum sold Caruna to mostly-foreign investors, including Canadian and Australian funds with holding companies in the Netherlands. Yle has found that through creative – but legal – international bookkeeping, the firm paid tax of just 1.6 percent on profits of more than 50 million euros in Finland in 2014.
Rehn: "Unreasonable price hikes"
At the time of the sale, it was defended by then-premier Jyrki Katainen, who pledged that transfer prices would not be raised. The deal was criticised by then-opposition party leaders Juha Sipilä and Timo Soini – now prime minister and foreign minister respectively.
Sipilä's Centre Party colleague Rehn chooses his words carefully when asked about the tax issue.
"When the grid was sold, the company gained a strongly foreign ownership. Their readiness to pay taxes is not perhaps of exactly the same level that one would hope as a Finn."
Asked whether the sale of Fortum's grid was a mistake, he replied:
"These rather unreasonable price hikes arouse well-founded questions as to whether this was a wise decision. Now we have (electricity market) legislation from 2013, so let's see what can be done within that framework."
Also on Monday, the Consumers' Union of Finland said its lawyers are looking into what customers can do in the face of the sudden price boosts.