Fortum updates on the turbulent situation in the Nordic power commodity market
FORTUM CORPORATION STOCK EXCHANGE RELEASE29 AUGUST 2022 AT 11:23 EEST Release category: Other information disclosed according to the rules of the Exchange In conjunction with the company’s half-year 2022 financial statements release last week, Fortum stated that the ongoing energy crisis in Europe due to Russia’s decision to use energy as a weapon, now also affects the Nordic power market. Dramatically increased spot and futures prices for power in the Nordics have led to unprecedentedly high collateral requirements for utility companies that hedge their power sales on the market.