Fortum renews its service offering to large electricity business customers

Fortum renews its service offering to large electricity business customers Fortum is planning to standardise the products and services it offers to large electricity business customers. The renewed product offering would be based on Nord Pool products while portfolio management services and tailor-made physical deliveries in the Nordic countries would be phased out over a transition period. Fortum's products and services to consumers and small businesses remain unchanged. Fortum Markets buys its electricity through Nord Pool and sells 2/3 of its volume to business customers. The planned reform of the business customer products and services follows the renewal of consumer products a year ago and is part of Markets' extensive efficiency program. As a consequence, Fortum will begin statutory negotiations with personnel over the adjustments in operations that the plan would require. The estimated need for workforce reduction is at maximum 75 in Finland, Sweden and Norway. "Development in the well-functioning Nordic electricity market has led to the situation where large customers have direct access to electricity markets and are increasingly operating independently. Turning around our electricity sales also in the business customer segment requires renewing and simplifying our products as well as further increasing cost efficiency - just as we have successfully done in the consumer segment. We will now contact our customers and discuss the way forward. It is also a priority for us to find the best possible outcome for all parties in the personnel negotiations," says Matti Saario, Vice President, Electricity Sales and Marketing at Fortum. Fortum Corporation Corporate Communications Further information: Matti Saario, Vice President, Electricity Sales and Marketing, tel. +358 400 405 344 Hanna Lohjelm, Vice President, Communications, Electricity Solutions and Distribution Division, tel. +46 70 353 20 40