Fingrid requests a statement from the Ministry of Trade and Industry concerning Fingrid’s action in conjunction with United Power Oy’s sea cable project

Fingrid Oyj, which is responsible for the main electricity transmission grid in Finland, sent on 24 April 2006 a request for statement to the Finnish Ministry of Trade and Industry concerning Fingrid’s action in United Power Oy’s sea cable project. The request for statement was requested because public doubts have been directed at Fingrid’s action and its position, and Fingrid wishes to correct such doubts.

Doubts have been presented in public concerning the reliability of Fingrid’s views and favouring of certain market parties in conjunction with the sea cable project being planned by United Power Oy. In its request for statement, Fingrid asks the Ministry to investigate whether the company has acted in the matter in accordance with its statutory obligations and system responsibility imposed on Fingrid by the Energy Market Authority and whether the estimates of impacts on the power system, presented by the company in its statements, have been drawn up in accordance with these.

Fingrid has a statutory responsibility to take care of the system security of the Finnish power system and to develop the operating conditions of the electricity market. In its statement submitted to the Ministry of Trade and Industry on 15 February 2006, Fingrid has stated that the 1,000 megawatt sea cable project being planned by United Power Oy from Sosnovyi Bor in Russia to Finland would considerably deteriorate the system security of the Finnish power system and the operating conditions of Finnish parties on the electricity market. Fingrid considers that these drawbacks are so severe and so difficult to remove that the proposed project does not fulfil the basic conditions for connection to the Finnish power system. Further information: 
Timo Toivonen, President & CEO, +358 (0)30 395 5250 or +358 (0)40 5605 250