Fortum invests in smart metering in Norway

Fortum is investing in a smart metering system based on two-way communication
in Norway. The installation of the new meters will begin in 2013 and altogether
100,000 households as well as small business customers in Fortum's network area
will be connected to the system by 2015.

Fortum has chosen Telvent to deliver, install and operate the system. The
service agreement includes Echelon's metering equipment, Telvent's system as
well as maintenance and collection of meter readings. Fortum and Telvent's
contract also includes several options for future development and upgrading.
Telvent has since 2009 been Fortum's partner in the currently ongoing Finnish
smart metering rollout.

“With the new smart meters, invoicing will be based on real electricity
consumption. Customers receive more accurate information on their electricity
consumption and therefore have better possibilities for saving energy. In
addition, the smart meters will be used for more efficient power failure
resolution and as a platform for future development of smart grids and services
within electricity solutions”, says Ari Koponen, Vice President, Distribution
at Fortum.

Norwegian legislation requires hourly meter reading by the end of 2016. The
smart metering system provided to Fortum's customers will include a variety of
features such as consumption reporting via the internet and a connection to
future smart home systems via an interface in the meter.

Fortum Corporation
Corporate communications

Additional information:
Niklas Claesson, Communications Manager, Norway, tel. +47 902 56 348
Ari Koponen, Vice President, Distribution, tel. +358 504531254