Fortum starts commercial operation of Chelyabinsk GRES power plant's unit 1 in Russia; Chelyabinsk GRES 2 further delayed


Fortum has commissioned unit 1 of its Chelyabinsk GRES combined heat and power
plant in Russia. The unit's certified capacity is 247.5 megawatts (MW)
electricity and the evaluated heat capacity 174.45 MW. Fortum starts to receive
capacity payments for Chelyabinsk 1 under the Russian government's Capacity
Supply Agreements (CSA) as of 1 December 2015. The unit 2 of Chelyabinsk GRES
is estimated to start commercial operation in early 2016. The slight
postponement is due to delays in construction. Upon completion, the combined
capacity of the Chelyabinsk GRES units 1 and 2 will be 495 MW electricity.

"Our extensive investment programme in Russia that started in 2008 is now
nearly completed. Our new CHP units are more efficient and competitive than the
older units. In addition, they have significantly lower fuel consumption and 5
times lower NOx concentration of flue gases compared to the old equipment at
the Chelyabinsk GRES power plant," notes Alexander Chuvaev, Executive Vice
President, Russia segment of Fortum. "Energy efficiency and more
environmentally friendly and reliable technology will also benefit our local
residential and industrial customers."

Fortum's investment programme in the South Urals and Western Siberia in Russia
has consisted of eight new gas-fired power plant units and the modernization of
the existing units. After the programme is concluded, Fortum will have one of
the most modern fleets in Russia, and it has nearly doubled its power
generation capacity in Russia to approximately 5,200 MW. The new capacity will
receive considerably higher capacity payments than the old capacity under the
Capacity Supply Agreements.

Fortum announced in October 2015 that the targeted operating profit (EBIT)
level of RUB 18.2 billion in the Russia segment is delayed by two to three
years. Previously the run-rate EBIT level was targeted to be reached during
2015 after finalizing the investment programme.

Fortum Corporation
Corporate Communications

Further information
- Helena Aatinen, Senior Vice President, Communications, Fortum, tel. +358 10
45 20480
- Denis Litoshik, Director, Corporate Communications and Public Relations,
Russia Division, tel. +7 (985) 383-52-61
Investors and analysts:
- Sophie Jolly, Vice President, Investor Relations, tel. +358 10 45 32552

Background information:
Fortum in Russia

Fortum’s purpose is to create energy that improves life for present and future
generations. Fortum’s expertise is in CO2-free and efficient electricity and
heat production. The company also offers energy-related products and expert
services to private and industrial customers and energy producers. Fortum’s
main areas of operation are the Nordic and the Baltic countries, Russia and
Poland. In 2014, the annual sales (excluding the divested electricity
distribution business) totalled EUR 4.1 billion, and comparable operating
profit was EUR 1.1 billion. The company employs approximately 8,000 people.
Fortum’s share is listed on Nasdaq Helsinki.