The decline comes as energy companies increasingly turn to electric boilers for heat production. Helen’s Hanasaari project in Helsinki will combine four electric boilers with a total thermal output of 200 megawatts and 1,000 megawatt-hours of thermal storage. The published schedule envisages commissioning during the 2026–2027 heating season.   

The decline comes as energy companies increasingly turn to electric boilers for heat production. Helen’s Hanasaari project in Helsinki will combine four electric boilers with a total thermal output of 200 megawatts and 1,000 megawatt-hours of thermal storage. The published schedule envisages commissioning during the 2026–2027 heating season.

Energy wood prices in Finland continued to fall in the third quarter of 2026. Average prices were down 20–24 per cent year on year in real terms, according to the Natural Resources Institute Finland, Luke. The decline comes as energy companies increasingly turn to electric boilers for heat production.

Hannes Tuohiniitty of industry association Bioenergia identifies the technological shift in heating as the main reason for weaker demand. Speaking to Finnish newspaper Maaseudun Tulevaisuus, he said sales volumes of whole trees for energy use had at least halved compared with 2024.

Prices fall across both sales categories
Between July and September, the average energy wood price was €12.42 per cubic metre in standing timber sales and €29.67 in delivery sales. In standing timber sales, the buyer handles harvesting. In delivery sales, the seller harvests the wood and transports it to an agreed delivery point.

Prices fell by 10 per cent and 4 per cent respectively from the previous quarter. For delimbed energy wood, the corresponding prices were €17.44 and €35.15 per cubic metre. Luke’s reported price changes are adjusted for inflation.

Low-cost electricity replaces heating fuels
Electric boilers are taking a growing role in Finnish district heating. According to Finnish Energy, the industry association, they produced approximately 2.6 terawatt-hours of heat in 2025, up from about 1.5 terawatt-hours in 2024.

Operators use the boilers to replace fuel-based heat production when electricity prices are low. The boilers are often combined with thermal storage, allowing heat to be produced during cheaper periods and used later.

One example is Helen’s project at Hanasaari in Helsinki. The company has announced four electric boilers with a combined thermal output of 200 megawatts, alongside thermal storage with a capacity of 1,000 megawatt-hours. Under the published project schedule, the facility is due to enter service during the 2026–2027 heating season.

Purchases decline as logging residues dominate
Luke recorded energy wood purchases of 2.4 million cubic metres between January and September, down 16 per cent from the same period in 2025.

Third-quarter purchases totalled 647,000 cubic metres. Although this was 10 per cent above the year-earlier figure, it remained roughly one-third below the average for the corresponding quarter over the previous five years.

Logging residues accounted for 53 per cent of recorded purchases, delimbed stems for 27 per cent, whole trees for 17 per cent and stumps for 3 per cent. The statistics cover recorded purchases from forest owners and represent part of the private forest energy wood market.


Source: Natural Resources Institute Finland