Fortum's segment reporting is based on business operations combined with one segment based on geographical area. The reporting segments under IFRS are Generation, City Solutions, Consumer Solutions, Russia, and Other Operations. Other Operations mainly comprises corporate functions as well as Fortum's shareholding in Uniper, which is consolidated as an associated company.
Generation is responsible for Nordic power production. The segment comprises nuclear, hydro and thermal power production, portfolio management, and trading and industrial intelligence, as well as nuclear services globally.
City Solutions develops sustainable city solutions into a growing business for Fortum. The segment comprises heating and cooling, waste-to-energy, biomass and other circular economy solutions. The business operations are located in the Nordics, the Baltic countries and Poland. The segment also includes Fortum’s 50% holding in Stockholm Exergi, which is a joint venture and is accounted for using the equity method.
Consumer Solutions comprises electricity and gas retail businesses in the Nordics and Poland, including the customer service, invoicing and debt collection business. Fortum is the largest electricity retail business in the Nordics, with approximately 2.5 million customers across different brands in Finland, Sweden, Norway and Poland. The business provides electricity and related value-added products as well as new digital customer solutions.
The Russia segment comprises power and heat generation and sales in Russia. The segment also includes Fortum’s over 29% holding in TGC-1, which is an associated company and is accounted for using the equity method.