Peak load capacity arrangement launched from 1 October

The new Finnish act on the peak load capacity which secures a balance between electricity production and consumption entered into force on 1 March 2011. The application of the new act on the peak load capacity will commence on 1 October. Therefore Fingrid signed today operating agreements with power plants' owners.

The Energy Market Authority has arranged competitive bidding and confirmed the power plants selected for the peak load capacity arrangement for the period of 1 October 2011 to 30 June 2013. The arrangement covers the following power plants Fortum Power and Heat Oy’s power plant unit Inkoo 3, PVO-Huippuvoima Oy’s power plant unit Vaskiluoto 3 and PVO-Lämpövoima Oy’s power plant unit Kristiina 1. The total capacity of the power plants is 600 megawatts.

Fingrid Oyj signed today operating agreements for the plants with their owners.In accordance with the act on the peak load capacity, the power plants will be in a starting readiness of a maximum of 12 hours in the winter period (1 December to 28 February), and in a starting readiness of a maximum of one month at other times.

The costs of the peak load capacity arrangement will be approx. 18 to 19 million euros per year during the agreement period.

Fingrid has segregated the administration of the peak load capacity to its wholly owned subsidiary Finextra Oy. The peak load capacity is funded by means of a fee based on electricity consumption, levied from the grid customers in retrospect in three-month periods.

Further information
Pertti Kuronen, tel. +358 30 395 5127
Kaija Niskala, tel. + 358 30 395 5147