Fortum Corporation STOCK EXCHANGE RELEASE
2 September 2005 at 8.35 am
Fortum accelerates efforts to further improve the reliability of its grids
Fortum boosts the investments to further improve security of electricity supply
to all of its Nordic customers in Sweden, Finland and Norway. A Reliability
Program, stretching over a 5 year period, was kicked off today. The Program
accelerates Fortum´s already planned grid investments to a total of 700 MEUR
during the period.
The Program´s first scheduled phase is 3 years long and the remaining part will
be planned in more detail as experience from the first phase is being gained.
Each country has its own prerequisites. Age as well as characteristics of the
grids differs and activities as well as techniques will be adjusted accordingly.
Thorough analyses have been made to ensure that effective solutions and projects
are tailored to fit with the different requirements - both on an overall level
and in the respective countries.
"Already now our average grid availability is 99, 9% on a Nordic basis. With the
help of this program we will reach our target to halve the present outage time
for our customers by the end of 2011. Our ambitions are high and we believe they
meet with our customers' expectations. However this also requires long-term
regulation that steers development towards higher reliability", says SVP
Christian Lundberg from Fortum.
SVP, Corporate Communications
For more information:
Bengt Johansson, Vice President, Fortum Distribution, Sweden, +46 70 654 1197
Ari Koponen, Vice President, Fortum Distribution, Finland, +358 50 453 1254
Helsinki Stock Exchange