FORTUM CORPORATION ONLINE NEWS 15.4.2024
Fortum’s trading desk has accidentally sold more production than intended in the spot auction for delivery on Monday 15 April 2024. The erroneous bid was placed on the Swedish SE2 price area for all hours of the day. The surplus volumes sold average 638 MW throughout the day.
Fortum increased hydropower production and bought back volumes in the intraday and balancing markets to secure its commitments to the market on Monday. Fortum does not expect difficulties in matching the shortfall in physical deliveries as hydro power production is running on high capacity due to the ongoing spring floods. Fortum’s initial assessment is that the financial impact of the incident on the company’s results is very limited.
Once the fault was discovered on Sunday afternoon, Fortum informed the power market with UMMs (Urgent Market Message) in accordance with market regulation. Fortum is investigating the matter to understand why its internal processes failed on Sunday.
At this point Fortum does not have any further comments on the matter.
Fortum Corporation
Communications
Further information:
Fortum Newsdesk, +358 40 198 2843, newsdesk [at] fortum [dot] com (newsdesk[at]fortum[dot]com)