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Electricity Prices Surge, Competition Wanes

Electricity bills have reached record highs in Finland, according to the Energy Market Authority. Since the beginning of this year, electricity costs for the average consumer have surged by nearly ten percent. Those with electric heating have been hit the hardest. Furthermore, competition has slowed down. On average, consumers have paid about 11 euros in additional costs over the past six months. Those with electric heating in their homes have faced additional costs of 40 to 45 euros. The authority, which works under the Ministry of Trade and Industry, says consumers could find deals from competing companies relatively easily earlier this year. That is no longer the case. YLE