Managing Director’s Review 2017

We are nearby, but see far ahead

2017 was a year of much success for us. Our customers’ satisfaction with our service and our reliability of supply were at record levels, and financially the year also went well. Our turnover and profits remained at the previous year’s level despite the drop in energy consumption and the continued low market price for electricity.

Our operational environment is undergoing a transition. Our well-being depends on uninterrupted, reasonably priced and environmentally friendly energy. Our customers’ expectations towards energy companies have changed. We renewed our strategy last spring to respond to these changes, to our customers’ expectations and to the upcoming challenges in the near future. We clarified what our core business is and what our short-term goals are, and placed our customers more firmly in the centre of what we do.

We have already for years been persistently investing in increased use of renewable energy sources and the reduction of emissions. Last year, we drew up a new environmental programme for the next three years. This environmental programme includes 46 actions which will benefit the environment and which we will be carrying out over the next three years.

In December, we had the opportunity to celebrate the completion of the new multiple-fuel power plant in Naantali, which will significantly increase the proportion of renewable energy sources in heat and electricity production and significantly reduce carbon dioxide emissions in the region of Turku. This year we will most likely achieve, ahead of time, the goal set for 2020 to have over 50% of the electricity and heat we sell produced from renewable energy sources.

We also began last year the construction of a new steam plant in Artukainen which is fuelled by forest processed chips.  When complete, this plant will ensure that most of the steam produced for five of the area’s prominent businesses will be produced with biofuel. In addition, the proportion of our electricity produced with wind power will more than double during this year thanks to the offshore wind farms completed last year by our affiliate Suomen hyötytuuli Oy and the bilateral purchase agreements made with them.

A sense of responsibility is an integral part of all our operations. We take action daily for a cleaner energy conscience and for our customers’ energy well-being. Behind us is a 120 year history and a well-built foundation for the coming years.

Timo Honkanen