Fingrid Oyj's result considerably better than expected

Contrary to earlier projections, Fingrid Oyj’s result for the 2015 financial year, excluding taxes and changes in the fair value of derivatives, is expected to improve considerably from 2014. The exceptional water and production situation in the Nordic countries has pushed wholesale electricity market prices to a very low level. With the physical transmission capacity of electricity between Finland and Sweden being insufficient to meet Finland’s demand, the regional price differences between the two countries have grown exceptionally large and thus transmission system operators (TSOs) have received a significant amount of congestion income.

Congestion income, which is allocated through the market mechanism, was especially high in July and August, totalling EUR 32.3 million. Congestion income in January–September totalled EUR 67.7 million, which is EUR 30.1 million higher than in the corresponding period last year.

It is projected to be record-high for the full year. It is likely that the company will close the 2015 regulatory period with surplus revenue. This surplus will be taken into account in the 2016 grid fees.

Further information:

Jukka Ruusunen, President & CEO, tel. +358 30 395 5140 or +358 40 593 8428
Jan Montell, Chief Financial Officer, tel. +358 30 395 5213 or +358 40 592 4419