Fortum – Power and heat
company in the Nordic countries,
Russia, Poland and the Baltics
Birgitta Resvik, Vice President Corporate Relations Sweden
Our geographical presence today
Nr 3
Power
generation
Nr 1
Heat
Nr 1
Distribution
Nr 2
Electricity
sales
Key figures 2012
Nordic countries
Power generation
Heat sales
Distribution customers
Electricity customers
51.6 TWh
14.5 TWh
1.6 million
1.2 million
Russia
OAO Fortum
Power generation 19.2 TWh
Heat sales
26.4 TWh
Great Britain
TGC-1 (~25%)
Power generation
Heat sales
Power generation 1.1 TWh
Heat sales
1.8 TWh
2
Sales
EUR 6.2 bn
Operating profit EUR 1.9 bn
Balance sheet EUR 25 bn
Personnel
10,400
Poland
Baltic countries
Power generation 0.8 TWh
Heat sales
4.3 TWh
Power generation
Heat sales
0.4 TWh
0.9 TWh
~7 TWh
~8 TWh
Solar Economy
Transition towards Solar Economy
High
Solar based production with
high overall system efficiency
Sun
Hydro
Ocean
Low
Resource & system efficiency
Geothermal
CHP
Advanced
energy production
Bio
Energy efficient and/or
low-emission production
Nuclear
tomorrow
Traditional
energy production
Exhaustible fuels that burden
the environment
Oil
Coal
Finite fuel resources
Gas
CCS
Nuclear
today
Large CO2 emissions
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3
Wind
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Infinite fuel resources Emissions free production
Fortum’s investment programme
– Nordic region, Poland and Baltic countries
Project
Electricity, MW
Heat, MW
Commissioned
Olkiluoto 3, Finland
400
Swedish nuclear upgrades
290
Blaiken, Sweden, wind power
30
Refurbishing of hydro power
10
Brista, Sweden
20
57
Q4 2013
20
60
Q1 2013
23
63
Q2 2013
23
45
Q3 2013
130
280
2016
~950
~500
annually
(waste CHP)
Klaipeda, Lithuania
(waste CHP)
Järvenpää, Finland
(biomass CHP)
Jelgava, Latvia
(biomass CHP)
Värtan, Sweden
(biomass CHP)
Total
Additional electricity capacity around 950 MW
100% CO2-free
4
The estimated oversupply 2-2.2 billion allowances by 2020
- corresponding to annual emissions in the EU ETS
Source: EC, Carbon Market Report, November 2012
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Fortum’s view: strengthening of the ETS in two phases
• Trust and confidence on the ETS to be reestablished
• In short term (2013-2020):
– backloading followed by set-aside if needed.
– we support backloading as route to structural
measures.
• In long term (2020 ->):
– emission reduction path 2030-2050
– target for the greenhouse gas reduction only,
no separate targets for RES etc.
– Structural changes in ETS. Adjustment
of the linear annual reduction factor 2020 -> and
enlarging the scope of ETS preferred.
• A pre-designed mechanism to adjust the ETS
automatically in cases of significant deviations in
economy to be investigated.
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Thank you!
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