Market position

Fortum is the third-largest power generator in the Nordics and one of Europe’s cleanest power generators. In 2024, roughly 85% of the Group’s comparable EBITDA originated from the company’s Nordic 47 TWh outright power generation, which is mostly based on CO2-free hydro and nuclear power. 

Fortum is also the largest electricity retailer in the Nordics with 2.1 ‍million customers representing a market share of 13%. Furthermore, Fortum has district heating and cooling business in Finland and Poland. In 2024, Fortum produced 4.1 TWh of heat mainly from energy-efficient combined heat and power (CHP) plants. These businesses are complemented by onshore wind and solar, and electricity and gas retail business in Poland. Most of Fortum’s Circular Solutions businesses were divested during 2024 following the strategic review initiated in August 2023.

Nordic power generation, 429 TWh, over 350 companies

Source: Fortum, company information, 2023 figures pro forma. 
Fortum continuing operations.

Nordic electricity retail, 16 million customers,  ∼350 companies

Specific CO2 emissions of major utilities in Europe, gCO2/kWh electricity

Fortum's data includes specific carbon dioxide emissions from power generation in Europe in 2024.
All other figures, except Fortum, include European power generation in 2023. For some companies the PwC figures might also include heat production. 
Source: PwC, November 2024, Climate Change and Electricity, Fortum.

Largest power generators in Europe, TWh

Source: Company information, Fortum analyses, 2023 figures pro forma. 
*2021 figures for Ukrainian companies. Fortum continuing operations. EPH incl. LEAG