26.6.2013 15:00
Current News, Electricity Market

Operating agreements on peak load capacity for the upcoming period have been signed

Today, Finextra Oy, PVO-Huippuvoima Oy and PVO-Lämpövoima Oy have signed operating agreements on their power plants participating in the peak load capacity arrangement in the next two-year period, from 1 July 2013 to 30 June 2015. The arrangement covers the power plants of Kristiina 1 (210 MW) and Vaskiluoto 3 (155 MW). Both of these are heavy fuel oil-powered plants.The peak load capacity decreased from the previous period's 600 megawatts to 365 megawatts. Correspondingly, the fixed annual fee paid for the capacity decreased from EUR 18.3 million to EUR 7.8 million.

Finextra has agreed with its grid customers on financing the arrangement.  The cost of the new peak load capacity period is approximately one-half of the current agreement period's level, due to the smaller peak load capacity and consequently lower costs. The final price of the peak load capacity arrangement depends on the development of electricity consumption and the use of the peak load capacity, and the possible addition of  demand response to the arrangement. In 2012, the average cost of peak load capacity stood at EUR 0.23/MWh

More information in Fingrid and Finextra is given by:
Kaija Niskala, Manager, tel. +358 (0)30 395 5147
Pertti Kuronen, Corporate Adviser, tel. +358 (0)30 395 5127