Fortum invests in automatic meter management in Sweden

Fortum has signed a service agreement over the delivery of an automated meter management (AMM) system in Sweden with Telenor Cinclus AS. Approximately 835,000 households and small businesses in Fortum’s Swedish network areas will be within the system by the end of 2008. The first meters will be installed in 2006. By law, all electricity customers in Sweden must be guaranteed monthly meter reading by 2009. The service agreement with Telenor Cinclus includes the metering equipment, the system, maintenance and collection of meter readings over the years 2006-2016, as well as several options for future development and upgrading. The total value of the procurement is approximately 2.2 billion Swedish kronor (approximately EUR 240 million). The procurement is part of Fortum's investment program aiming at further improving services to customers. Based on two-way communication, the AMM system includes a variety of features that exceed legislative requirements such as the possibility of real time readings, meter reading by the hour and change of supplier on the same day. Fortum has also previously announced a EUR 700 million investment plan to further improve its electricity distribution networks. Fortum Corporation Carola Teir-Lehtinen Senior Vice President, Corporate Communications Further information: Christian Lundberg, Senior Vice President, +46 70 344 5807 Distribution: Helsinki Stock Exchange Key media