Fingrid once again top performer in a European cost efficiency comparison of transmission system operators
Fingrid is ranked top performer in a European cost efficiency comparison of transmission system operators. The study commissioned by the European energy regulators involved 17 European transmission system operators and the companies’ scope and conditions were taken into consideration. Fingrid is always looking for more efficient and smoother solutions to ensure high productivity and the transmission pricing among the lowest in Europe.
The cost efficiency of the transmission system operator largely determines the level of transmission prices, and Fingrid has been among the most affordable in Europe for a long time in that regard. The latest results of the benchmarking study “Transmission Cost Benchmarking project 2018 (TCB18)”, which has been conducted multiple times, show that Fingrid is operating at an efficiency level of 100% without significant potential for improvement.
The benchmarking study was carried out at the initiative of the Council of European Energy Regulators (CEER) and was prepared in cooperation between national energy authorities and transmission system operators. The study involves 17 European transmission system operators and compares, by a normalisation procedure, the total input (operational costs and investments, so-called TOTEX) of the companies’ network operations in relation to their scope and conditions.
Fingrid’s CFO Jan Montell:
“This comparison once again demonstrates that Fingrid’s conscious and humble culture, cost-effective business model and long-term strategy, focused on continuous improvement and core tasks, support successful operations. It also indicates that cooperation and innovation with customers, service providers and other partners is working well.”
“However, the operating environment is changing dramatically, increasing cost pressures in the future. That is why, despite these excellent benchmark results, we are always looking for more efficient and smoother solutions to ensure high productivity. In this way, we strive to continue to keep our transmission pricing among the lowest in Europe,” continues Montell.
The study results are available in the appendix.
CFO Jan Montell, Fingrid Oyj, tel. +358 40 592 4419