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  • Fortum
    Keilaniementie 1, Espoo, P. O. Box 1FI-00048 FORTUM
    http://www.fortum.com
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    Green data centres make Stockholm unique in the world

    The Internet service provider Bahnhof and the energy company Fortum Värme have signed an agreement for large-scale heat recovery from Bahnhof's planned “Green Hub” data centre in central Stockholm. Fortum Värme will be supplying cooling to Bahnhof, which in turn plans to sell back surplus heat to the district heating system. The ability for data centres to sell excess heat, which previously went to waste, at market prices make Stockholm a unique place to establish your operations.“This is an important step to recovering as much energy as possible from the expanding global IT sector,” says

    Invitation to press and telephone conferences on 24 April 2008

    PRESS RELEASEThe interim report of Fortum Group for January-March 2008 will be published on 24 April 2008, at about 9 a.m. Finnish time (7 a.m. UK time).A press conference (in Finnish) will be arranged at 11.00 a.m. Finnish time in the auditorium of our head office, Keilaniementie 1, Espoo. The press conference will be webcasted and available on our website. A buffet lunch will be served after the press conference.You can also participate in an international teleconference for analysts and investors at 4.00 p.m. Finnish time on the same day by dialing +44 (0) 20 3023 4410 (if calling

    Finnish Competition Authority appeals to the Supreme Administrative Court on the Market Court’s ruling concerning Fortum’s E.ON Finland acquisition

    Stock Exchange ReleaseThe Finnish Competition Authority has appealed to the Supreme Administrative Court on the Market Court’s ruling of 14 March 2008 concerning the conditions of Fortum’s E.ON Finland acquisition. In their ruling, the Market Court stated that the Finnish Competition Authority had no grounds for setting conditions to the acquisition. The conditions, set in June 2006, have already been fulfilled by Fortum.Fortum CorporationMaria Romantschuk:Senior Vice President, Corporate CommunicationsDistribution:OMX Nordic Exchange HelsinkiKey media

    Renewable energy must be supported in an efficient manner

    PRESS RELEASEA Nordic-wide green certificate scheme for supporting renewable-based electricity production could save EUR 1 billion, or 25%, annually, compared to national schemes. By utilising the resources in a more efficient manner, increasing renewable-based electricity production would be cheaper, thus lowering the needed support ultimately paid by taxpayers or electricity customers.The European Union has committed to increase its share of renewable energy in the final energy consumption from 8.5% in 2005 to 20% in 2020. The target has been allocated nationally to each member state.

    Fortum's Environmental Impact Assessment report for the third nuclear power plant unit in Loviisa to the Ministry of Employment and the Economy

    PRESS RELEASEToday, 3 April 2008, Fortum submitted to the Ministry of Employment and the Economy the Environmental Impact Assessment (EIA) report for a new, 1,000-1,800 MW nuclear power plant unit (Loviisa 3) to be built on Hästholmen island in Loviisa. The EIA indicates that a new nuclear power plant unit can be built on Hästholmen island. After the Ministry issues its statement, Fortum will make decisions regarding further measures.The purpose of the Loviisa 3 project is to invest in new, climate-benign power generation in line with Fortum’s strategy. Fortum’s long-term target is to be

    FORTUM CORPORATION’S BOARD COMMITTEES

    Stock Exchange ReleaseFortum’s Board of Directors has elected, from among its members, Peter Fagernäs (Chairman), Esko Aho, Matti Lehti and Marianne Lie to the Nomination and Compensation Committee.Furthermore, the Board elected Birgitta Johansson-Hedberg (Chairman), Ilona Ervasti-Vaintola and Christian Ramm-Schmidt to the Audit Committee.Fortum CorporationMaria RomantschukSenior Vice President, Corporate CommunicationsDistribution:OMX Nordic Exchange HelsinkiKey mediawww.fortum.com

    DECISIONS BY THE ANNUAL GENERAL MEETING OF FORTUM

    Stock Exchange ReleaseDECISIONS BY THE ANNUAL GENERAL MEETING OF FORTUMFortum Corporation’s Annual General Meeting, which was held in Helsinki on 1 April 2008, adopted the financial statements of the parent company and the Group for 2007, discharged Fortum's Supervisory Board, Board of Directors and the President and CEO from liability for 2007, and decided to pay a dividend of EUR 1.35 per share for 2007. Of this dividend, EUR 0.77 per share is to be paid from the company’s recurring earnings and EUR 0.58 per share as additional dividend in order to steer the company’s capital structure

    Fortum’s electricity market review 19 March 2008

    Fortum publishes a current electricity market review once or twice a year. Topics covered in the review include price development on the Nordic power market and factors influencing the development.Summary:- The Nordic wholesale prices have increased compared to last year – but not as much as was expected. Lower then expected prices are mainly due to strong hydrological situation and warm weather.- There is a surplus of 11 TWh in the Nordic water reservoirs compared to long term average and in addition there is estimated to be also more snow than average in Norway.- Price for emission

    Fortum shares subscribed for with share warrants

    The following Fortum shares, subscribed for with Fortum Corporation's share warrants and paid to the company, will be traded on the Main List of the Helsinki Stock Exchange starting on 18 March 2008, together with the old shares.Name of scheme Subscription period QuantityShare Option Scheme 2002B for key employees 24 January 2008 -10 March 2008 186,933The increase in share capital resulting from the share subscriptions, a total of EUR 635,572.20, was entered in the Trade Register on 17 March 2008. After the increase, Fortum Corporation's share capital is EUR 3,041,954,816.20, and

    Fortum’s share in Russian TGC-10 approximately 76%

    The Russian territorial generating company TGC-10 has today confirmed subscriptions in the company’s share issue. The share issue was almost fully subscribed by Fortum at RUB 111.8 per share. Fortum announced that it will participate in the share issue on 29 February 2008, when it won the share auction over a 29% stake in TGC-10.The total value of Fortum’s subscription, and that of the entire share issue, was approximately RUB 46.6 billion or approximately EUR 1.3 billion. With this subscription, Fortum’s ownership in TGC-10 will increase to slightly over 76% shares and voting rights. The

    The Market Court: Fortum not in a dominant market position

    The Market Court decision today has overruled the conditional decision given by the Finnish Competition Authority in June 2006 on the acquisition of E.ON Finland. In the decision, the Finnish Competition Authority set conditions for the completion of the acquisition. The conditions have already been fulfilled by Fortum.In their ruling, the Market Court stated that the Finnish Competition Authority had no grounds for setting conditions, because Fortum cannot be considered to have a dominant position in the power generation and wholesale market. According to the Market Court, the relevant

    Fortum shares subscribed for with share warrants

    The following new shares have been subscribed for with Fortum Corporation's share warrants:Name of scheme Subscription period QuantityShare Option Scheme 2002B for key employees 1 – 29 February 2008 14 380The corresponding increase in share capital has not yet been entered in the trade register.The intention is that the next time share subscriptions related to the Fortum Share Option Scheme 2002B are registered will be approximately on 17 March 2008, when the new shares subscribed for by 10 March 2008 will be registered. The shares subscribed for with options by 10 March 2008 at the

    The nominees for Fortum's Supervisory Board

    The Finnish State has announced that it will propose that the following persons are elected to Fortum Corporation’s Supervisory Board for the upcoming term at the next Annual General Meeting, which is to be held 1 April 2008:Markku Laukkanen, Member of Parliament (MP), as ChairmanSanna Perkiö, MP, as Deputy ChairmanMartti Alakoski, Member of the City Council of KurikkaRakel Hiltunen, MP, as memberSampsa Kataja, MP, as memberKimmo Kiljunen, MP, as memberKatri Komi, MP, as memberPanu Laturi, Secretary General, as memberJuha Mieto, MP, as memberJukka Mäkelä, MP, as member

    Nordkalk and Paroc agree on extensive electricity procurement partnership with Fortum

    Nordkalk Oyj Abp and Paroc Oy Ab have signed electricity procurement agreements with Fortum Markets in Finland. In addition to the physical power supply, the agreements will cover the risk management of electricity procurement. Fortum will also manage the companies’ emission rights portfolios.The annual combined volume of the new agreements will be approximately 350 GWh, and will cover the entire electricity procurement to Nordkalk and Paroc’s Finnish operations. Fortum also supplies electricity to the companies in Sweden."The new extensive electricity procurement agreement for the

    FORTUM ACQUIRED SHARES IN AB KLAIPEDOS ENERGIJA IN LITHUANIA

    Fortum has acquired a 14.73% share in Klaipedos Energija in Lithuania from Stadtwerke Leipzig GmbH on 29 February, 2008. After the purchase, Fortum owns a 19.63% share of the company.AB Klaipedos Energija generates and distributes district heat to the residents and industries of Klaipeda City and Gargzdai town. The majority (75%) of the company is owned by the City of Klaipeda. The net sales of the company is around EUR 27 million, annual heat sales 1 terawatthours (TWh) and power sales 20 gigawatthours (GWh).The share purchase supports Fortum's growth strategy in the Lithuanian heat

    Fortum's Annual Report and annual summary 2007

    Fortum's Annual Report 2007 has been published in Finnish, Swedish and English. A PDF-version of the printed report is available at www.fortum.com/investors. An online annual report will be published on week 10. Printed copies are available on week 11. Copies of the annual report can be ordered from Fortum’s website.Fortum has today also published an annual summary of stock exchange releases and announcements published in 2007. The summary is available in pdf-format at www.fortum.com/investors.Fortum CorporationMaria RomantschukSenior Vice President, Corporate Communications

    Supplement to Fortum’s stock exchange release earlier today: Key financials of Russian TGC-10

    Fortum participated in a share auction conducted on 28th February to acquire a controlling stake in the listed Russian TGC-10. The key financials of TGC-1 are as follows:MEUR Last twelve months (LTM) as of Q3/07 2006 2005Sales 590 493 430EBITDA 55 42 55EBIT 26 15 29Net profit 12 8 19Balance sheet total 677 574 542Interest-bearing net debt 61 40 -3Fortum expects that the transaction will be earnings diluting for two years.The total consideration, EUR 1.7-2.7 billion, is to be financed with long-term bank loans. Fortum’s pro forma net debt/EBITDA will be around 2.8x at

    Fortum's press conference and conference call for analysts

    A press conference regarding TGC-10 (in Finnish) will be arranged at 12.30 Finnish time in the auditorium of Fortum’s head office, Keilaniementie 1, Espoo. The press conference will be webcasted and available on our website.You can also participate in an international teleconference for analysts and investors at 4.30 p.m. Finnish time on 29 February by dialing +44 (0)20 3023 4410 (if calling from Europe) or +1 866 966 5335 (if calling from the US). Participant code for both numbers: Fortum Corporation.If you are unable to participate, there will be a replay facility available for one

    Fortum to acquire controlling stake in Russian TGC-10

    Fortum will acquire a controlling stake in the Russian territorial generating company 10 (TGC-10). The acquisition is in line with Fortum's growth strategy and will make Fortum a significant player in one of the world’s largest energy markets with high demand growth. If Fortum reaches a 100% holding in TGC-10, the total value of the transaction will be around EUR 2.7 billion. Fortum will retain its financial flexibility and will continue its Nordic investment programme as planned.Fortum participated in a share auction conducted on 28th February to acquire a controlling stake in the listed

    FORTUM PARTICIPATED IN SHARE AUCTION OF RUSSIAN TGC-10

    Fortum has participated in a share auction of the listed Russian Territorial Generating Company TGC-10 operating in Urals region. The auction was conducted today, 28 February. Fortum will disclose more information as soon as it has received an official confirmation on the auction result from the selling party, RAO UES. The confirmation is expected tomorrow, 29 February.Fortum CorporationMaria RomantschukSenior Vice President, Corporate CommunicationsDistribution:OMX Nordic Exchange HelsinkiKey mediawww.fortum.com

    New long-term incentive plan for Fortum’s key personnel

    The Board of Directors of Fortum Corporation has decided to establish a new share-based long-term incentive (LTI) arrangement for Fortum Group’s management and other key personnel. The new arrangement replaces the Group’s current share-based LTI arrangement.The arrangement is a performance-based incentive scheme in which the number of shares granted is subject to Fortum’s achievement of annual corporate targets defined by the Board of Directors. The Board of Directors expects that Fortum will benefit from the LTI participants’ increased commitment to the company’s success brought-upon by

    Peter Lund receives the Fortum Foundation’s honorary award

    The Fortum Foundation contributes 700,000 euros to energy research.The Fortum Foundation’s grants for 2008 were announced in Espoo on Tuesday, 26 February 2008. During the ceremony, the Foundation awarded 10,000 euros to Helsinki University of Technology Professor Peter Lund for his lasting contribution to research and teaching in the energy sector. The Fortum Foundation supports research, teaching and development work in the energy sector, with emphasis on energy production and use as well as energy solutions for traffic.Professor Lund has been Professor in Technical Physics in Helsinki

    Fortum and TGC-1 agree on largest ever trade of CO2 emission reduction units in Russia

    Fortum, the Russian Territorial Generating Company No. 1 (TGC-1) and ECF Project Ltd have today signed an agreement according to which Fortum will purchase approximately 5 million tonnes of emission reduction units (ERU) from TGC-1. The ERUs will come from Joint Implementation projects conducted at TGC-1’s production facilities during the Kyoto Period (2008-2012) of the European Emissions Trading Scheme.The projects TGC-1 will implement include reconstruction of hydro power plants, expansion and reconstruction of combined heat and power generation facilities as well as energy efficiency

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