Consumer Solutions

The steel giant switched to 100% fossil-free electricity and reduced their electricity costs

05 May 2021, 10:54 EEST


Erasteel aims to reduce their CO2 emissions and at the same time reduce the electricity costs. They therefore made a big procurement where Fortum emerged as the winner. With unique needs, Erasteel felt confident that Fortum would guide them through a very complex market.

Erasteel is a major player in the HSS market. Thanks to a long history and dedicated staff, Erasteel has achieved a high quality and experience of processing powder metallurgical steels and high-speed steels. Their policy is to continuously invest in the latest technology to improve quality, productivity and develop new products to meet customer needs. With their 8 production facilities, 6 service centers and 12 offices, they have large and unique needs for electricity.

One of Erasteel's challenges was that they needed a more cost-effective and optimized solution for their electricity use. Therefore, they did a big procurement where Fortum won.

- The deciding factor in our choice to join Fortum was the simple and transparent solution to secure consumption based on guidance from Fortum's experts and that we had a very open and close relationship with our Account Manager, says Henrik Lissåker, Finance Manager, Erasteel Kloster AB.

Erasteel has also begun to review the opportunities to participate in the frequency market, where Fortum has a service that may be of interest to them. The service is called Fortum Spring and aims to offer solutions so that companies can be paid for flexibility when it comes to electricity consumption. Read more about Fortum Spring here.

Erasteel uses Fortum's online-based tool Fortum Online to gain full control over their electricity consumption and costs. In the tool, you can see cost and effect analyzes as well as comparisons at different facilities and during different time periods. Contact your local Account Manager to learn more about Fortum Online.

In addition, Erasteel buys 100% fossil-free electricity from Fortum.

- Thanks to Fortum, we now have the opportunity to optimize our electricity use and reduce our electricity costs at the same time as they help us reach our goal regarding CO2 emissions. Their customer support and expertise help us navigate a very complex market, says Henrik Lissåker.

The new partnership has, in short, resulted in:

  • Simple and transparent security solution.
  • Monthly meetings with a focus on what the electricity market looks like and what opportunities it brings.
  • Lower electricity costs and fees for Erasteel.
  • New opportunities, such as trading in the frequency market.
  • 100% fossil-free electricity.

Do you want to know more about the electrical agreements and services at Fortum? Please contact your local representative.