FORTUM CORPORATION PRESS RELEASE 26 FEBRUARY 2024
Fortum and the Finnish National Emergency Supply Agency, Huoltovarmuuskeskus (NESA) have postponed the transition of Fortum’s Meri-Pori power plant to security of supply use by one month. According to the original agreement, starting from 1 March 2024, the plant was to be dedicated for use only in the event of severe disruptions or emergencies in the electricity system. The updated agreement now reserves the production of the power plant for NESA for the period 1 April 2024 - 31 December 2026. Without the agreement, the power plant would have been closed.
"This arrangement will reduce the risk of electricity shortages in March. The beginning of January reminded us that we need more clean, weather-proof baseload and dispatchable power generation in Finland. We are preparing a capacity mechanism along with other measures for the coming years," says Minister of Environment and Climate Change Kai Mykkänen.
"It is a strength of Finnish society that we can find solutions together in challenging situations. Cooperation with Fortum has been excellent, with the amendment to the agreement period a good example of this," says Janne Känkänen, CEO of NESA.
“This winter the electricity market has been exposed to strong volatility, and it is fortunate that our Meri-Pori power plant can continue to support security of supply still in March. At the same time, I am concerned about the periodical scarcity of electricity in the Finnish power system in the coming winters. We need a broad societal debate on what kind of electricity system we want in Finland and how we can ensure enough balancing and base load power available in our country," says Simon-Erik Ollus, Fortum's Executive Vice President for Corporate Customers and Markets.
Fortum Corporation
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Further information:
Fortum News Desk, +358 40 198 2843, newsdesk [at] fortum [dot] com
Press release 30 October 2023: Fortum and Finnish National Emergency Supply Agency agree to reserve the production of Meri-Pori coal-fired power plant for emergency situations
Fortum
Fortum is a Nordic energy company. Our purpose is to power a world where people, businesses and nature thrive together. We are one of the cleanest energy producers in Europe and our actions are guided by our ambitious environmental targets. We generate and deliver clean energy reliably and help industries to decarbonise their processes and grow. Our core operations in the Nordics comprise of efficient, CO2-free power generation as well as reliable supply of electricity and district heat to private and business customers. For our ~5 000 employees, we commit to be a safe, and inspiring workplace. Fortum's share is listed on Nasdaq Helsinki. fortum.com