Press release

Fortum starts cooperation negotiations at Inkoo power plant

04 May 2009, 14:42 EEST

Fortum Corporation Press release 4.5.2009

Fortum starts cooperation negotiations at Inkoo power plant                     

Fortum is planning to transfer two out of four units at Inkoo coal-fired power  
plant for extended start-up readiness. This is due to the decreasing demand of  
coal condensing capacity now when economic recession has diminished the         
electricity consumption and the electricity wholesale prices have gone down.    
Maintaining the whole Inkoo power plant capacity in start-up readiness is not   
economically feasible considering expected operation times and the age of the   
power plant.                                                                    

As a consequence of the eventual change applicable to the two units, the        
personnel need is expected to reduce by a maximum of 60 positions and related   
cooperation negotiations will be initiated. The power plant employs currently   
125 persons. The cooperation negotiations will start on 11 May 2009 and will    
last for a maximum of six weeks. The aim is to find alternative solutions to    
maximum number of persons, such as retirements or positions in other Fortum     
power plants.                                                                   

The available production capacity of Inkoo power plant would eventually drop    
from 1000 megawatts to 500 megawatts. The two remaining units will maintain     
their roles as reserve capacity that can be started up in a reliable way.       

The Inkoo power plant, constructed between 1974 - 1978, has acted during latest 
years as a reserve power plant that has generated electricity during certain    
consumption peaks such as during very cold weather. In 2008, only one of four   
units has been in operation from time to time. This year, the power plant has   
not been running except during test runs.                                       

Fortum Oyj                                                                      
Corporate Communication	                                                        

Further information:                                                            

Matti Ruotsala, President, Fortum Generation, tel +358 10 452 1729