Stock exchange release

Fortum would prefer continued operations at Oskarshamn nuclear power units 1 and 2

23 June 2015, 15:00 EEST


E.ON as the majority owner of Oskarshamn nuclear reactors 1 and 2 in Sweden has announced their intention to start the closing process of the two reactors. The final decision will be made by the OKG Aktiebolag shareholders - the majority owner E.ON and the minority owner Fortum -  after which Fortum will assess the impacts of the decision.

 “On the contrary to E.ON’s view, we believe that it is possible to continue production in Oskarshamn units 1 and 2 until the end of their planned operational lifetimes. Oskarshamn 1, which is the oldest nuclear power unit in Sweden, has applied for the environmental permit to transfer to the service mode if later so decided.  Decisions on the future of Oskarshamn 1 will not be topical in the next few years, and the unit could continue its production at the current capacity level,” says Tiina Tuomela, EVP, Nuclear and Thermal Power in Fortum.

“The recent modernization investments of the Oskarshamn 2 have been carried out with a target to continue production until the end of the unit’s lifetime and with increased capacity. Considering the investments made as well as our strong expertise as a nuclear operator and a global service provider, we see that there are other measures to be taken to make safe and reliable production at Oskarshamn 2 till the end of its planned lifetime”, continues Tiina Tuomela.

Continuing production in Oskarshamn 1 and 2 would be beneficial for all parties. It would give more time to increase CO2-free energy production and to secure the energy supply for the Swedish industry and society as a whole. Oskarshamn’s three nuclear units provide approximately 10% of the Swedish electricity generation.

Fortum Corporation
Helena Aatinen
Corporate Communications

Further information:
Tiina Tuomela, EVP, Nuclear and Thermal Power Division, Fortum

Callback requests and media:
Helena Aatinen, SVP, Communications, Fortum, tel. +358 10 45 20480

Analysts and investors: Sophie Jolly, VP, Investor Relations, Fortum, tel. +358 10 45 32552

Attachment: Fact sheet on Fortum’s nuclear fleet

Fortum’s purpose is to create energy that improves life for present and future generations. Fortum’s expertise is in CO2-free and efficient electricity and heat production. The company also offers energy-related products and expert services to private and industrial customers and energy producers. Fortum’s main areas of operation are the Nordic and the Baltic countries, Russia and Poland. In 2014, the annual sales (excluding the divested electricity distribution business) totalled EUR 4.1 billion, and comparable operating profit was EUR 1.1 billion. The company employs approximately 8,000 people. Fortum’s share is listed on Nasdaq Helsinki.