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Minister for Foreign Trade and Development Kai Mykkänen at Aidon: Breakthrough of new energy solutions requires shaking up the market

The set-up of energy market is changing, as electricity users are getting actively involved in demand response. For example, the batteries of electric cars, which are rapidly becoming more common, can be utilised as an instrument of demand response. The transformation of energy business has proceeded furthest in the Nordics. This is mainly because of the strong local technology and industry & branch competence, Finnish Minister for Foreign Trade and Development Kai Mykkänen said during his visit to Aidon on Monday, 30th October.

How can this competence be converted into business also outside the Nordic market? ”New Nokia” has been sought for in many directions. Could Finland make a global breakthrough with smart energy technology? This was one the topics of discussion between Minister Mykkänen and Aidon’s CEO Timo Chrons.

Although the transformation of the energy market is inevitable, changes in a regulated trade of business take place quite slowly and, for instance, concerning implementation of the targets agreed in the Paris climate agreement, there are country-specific differences within the EU. The Nordic countries are forerunners in this respect as well. Long before the Paris agreement, in the most Northern corner of Europe words have been turned into action, and, for instance, the functional requirements of remote reading systems of electricity have been set higher here compared to the rest of the world.

Mykkänen and Chrons agreed on the fact that the real breakthrough of new energy solutions requires a stronger shake-up of the regulated market and also completely new, user-driven products and services, with which electricity users can actively get involved in demand response. According to Mykkänen, the pain point of demand response is in fact in the management of electricity consumption points.

The minister himself is a fairly active electricity consumer: he is soon deploying a demand response solution, with which he is going, for instance, to schedule the heating of his house and charging of his electric car to periods outside consumption peaks. His primary motive is not to reduce his electric bill but the desire to act as a responsible consumer, as well as his interest towards new solutions which have an influence also outside of his own life-space.

– I want to thank minister Mykkänen for this visit and the discussion. He is an active influencer in the energy business and in particular, I appreciate his familiarity with the topic, Timo Chrons said after the visit.