Press release

EU Commission's Second Strategic Energy Review a welcome step toward joint Northern European electricity market

13 November 2008, 16:00 EET

Fortum Corporation Press release 13.11.2008, 16.00 EET

EU Commission's Second Strategic Energy Review a welcome step toward joint      
Northern European electricity market                                            

The EU Commission has today published its Second Strategic Energy Review        
concentrating on security of energy supply. It complements the earlier actions  
to further improve the functioning of the internal energy market and climate    
change mitigation. It also indicates the increasing role of the European Union  
in the field of energy policies, which has earlier primarily lied in the hands  
of the Member States.                                                           

Internal energy market necessary for achieving environmental and security of    
supply targets                                                                  

The review considers competitive internal energy market fundamental in achieving
the targets set for emission reductions, renewables and energy efficiency       
contributing greatly to security of energy supply. No wonder, properly          
functioning internal energy market and better interconnections between the      
Member States is the number one target in the proposed EU Energy Security and   
Solidarity Action Plan.                                                         

One of the basic ideas of the EU - internal market - should be properly put into
practice also in the field of electricity and gas. This should also be reflected
in political decision making, as unified actions are much more effective than   
dispersed national actions in order to meet the energy and climate challenges.  

The Commission has identified interconnection of the Baltic countries into EU's 
other  electricity networks as one of Community priorities. This is welcome     
development creating a concrete step towards a joint Northern European          
electricity market covering all the countries around the Baltic Sea.            

Vision for 2050: decarbonised EU electricity supply                             

The review includes also first elements for Union's energy vision for 2050.     
These include, among other things, decarbonising the EU electricity supply by   
2050 via energy efficiency, renewable and nuclear energy as well as carbon      
capture and storage. It also aims to end oil dependency in transport by         
promoting, or even obliging, the use of vehicles fuelled by electricity, bio    
fuels and hydrogen.                                                             

The timing of the review is very important due to financial turmoil. It will    
also give guidance for the energy policy agenda of the new Commission to be     
elected after the EU Parliament elections in June 2009.                         

Fortum Corporation	                                                             
Corporate Communications                                                        

Further information: Esa Hyvärinen, Vice President, Public Affairs, Fortum      
Corporation, +358 40 826 2646