Russia drops plan to build undersea power cable to Finland

24 May 2007 – United Power will give up its effort to build an undersea electric cable from Russia to Finland, according to the Finnish Broadcasting Company [YLE].

The company had applied for a permit to build the cable, but the Ministry of Trade and Industry rejected the application towards the end of last year.

It is impossible to apply for a new permit because of the “discriminating attitude of Fingrid, which operates Finland’s electricity transmission. It is clear from the beginning that it would not be approved,” said Andreas Szep, chairman of the board of United Power, to YLE TV news.