HELSINKI, March 20 The Finnish government
proposed on Wednesday a legal amendment requiring the country's
utilities to invest up to 3.5 billion euros ($4.5 billion) to
improve their electricity distribution networks over the next 15
In the last few years many people in rural Finland have had
to go without electricity for days due to power cables being cut
when trees fall down in storms.
Economy minister Jan Vapaavuori said that electricity firms
could upgrade their distribution networks for instance by
putting cables underground or along roads or by building back-up
He said the cost of electricity interruptions was estimated
to be on the same level as the envisaged investment in the
Finland's biggest utility, state-controlled Fortum
, is reviewing its electricity distribution business.
Sources said last week it has hired Citigroup and Danske
Bank to explore a 5 billion euro sale of its
distribution business in Finland and Sweden.