Finland to Fine Kinect Energy for Error Causing Unprecedented Negative Electricity Prices

Helsinki – December 15, 2025 | EcoPulse24

Finnish authorities intend to impose an administrative fine on Kinect Energy Sweden AB after a trading order error made by the company last year led to an unprecedented collapse of electricity prices to negative levels for a full day in the Finnish market, according to the country's energy authority.

The authority explained that the Swedish company, part of World Kinect Corp., provided a faulty selling offer in November 2023 for the next day's electricity market, equivalent to nearly half of Finland's total electricity consumption during one hour, causing a severe market disruption and a deep drop in prices below zero.

As a result of this error, the average electricity price in the Finnish trading area fell to minus €203.4 per megawatt-hour that day, with 10 hours recorded at the minimum of minus €500, an incident that affected neighboring markets due to the close interconnection of electricity networks in Northern Europe.

The energy authority indicated that it would recommend to the market court to impose a fine on the company, considering that the trader acted negligently when submitting the erroneous trading order. According to applicable laws, the maximum fine may reach 10% of the company's revenues, with Kinect's defense to be heard before determining the final penalty amount.

Following the price collapse, some consumers benefited from effectively free electricity during certain periods, prompting authorities to urge residents to maintain normal consumption levels to avoid threatening the stability of the electricity grid.

This move comes at a time when European regulators are revising the rules and operations of electricity markets, particularly after incidents of price volatility linked to operational errors and erroneous trading, amid calls to strengthen technical and regulatory controls on market participants.

No immediate comment was issued by Kinect, while a spokesperson for Entelios, part of the Norwegian A Energi group, clarified that it previously acquired Kinect’s customer portfolio in the Nordic countries, excluding trading operations or obligations related to the case.