Gasum Portfolio Services retains responsibility for Fingrid’s portfolio management
In an open call for tender, Fingrid, Finland’s transmission system operator, awarded Gasum Portfolio Services Oy the contract to be its portfolio manager. The contract is a continuation of preceding cooperation. Gasum Portfolio Services was responsible also for portfolio management and trading regarding to Fingrid’s energy loss for the contract period recently ended.
“Long-term service development is particularly important with changes in electricity market regulation. Our history with Fingrid goes back a long way and it is pleasing to note that we can continue to develop together in the years ahead,” comments Janne Laine, Director at Gasum Portfolio Services.
The contract just signed applies to portfolio management and trading services relating to procurement of the Fingrid’s loss power in the grid. The contract is for three years with the option for a further two years.
“Fingrid’s customer relationship indicates strong confidence in our portfolio management services. It is important to hedge the price of loss power in the transmission grid against market price fluctuations at a competitive price because the costs of loss power will be paid by all grid users and ultimately also by consumers,” explains Janne Laine.
The volume of losses in Finland’s power transmission grid is about 1.2 TWh a year, which equals to 1.5 per cent of Finland’s entire electricity consumption.
”We find it extremely important that the cost of loss power is stabile in the long run so that we can ensure the predictability of the grid tariff for our customers,” comments Vice President Asta Sihvonen-Punkka at Fingrid.
Gasum Portfolio Services is an independent, investment licenced, portfolio management company and is market leader in Finland in the provision of portfolio management services related to the electricity markets. Gasum Portfolio Services Oy is wholly owned by energy company Gasum Group. Gasum Portfolio Services holds an authorization under the Act on Investment Services granted by the Finnish Financial Supervisory Authority.
More information:
Janne Laine, Director, Gasum Portfolio Services Oy, phone +358 40 838 0679, janne.laine@gasum.com
Ville Pesonen, Director, Gasum Energy Market Services, phone +358 40 558 7890, ville.pesonen@gasum.com
Juha Hiekkala, Manager, Fingrid, phone +358 40 553 9898, juha.hiekkala@fingrid.fi
The energy company Gasum is a Nordic gas sector and energymarket expert. Together with its partners, Gasum is building a bridge towards a carbon-neutral society on land and at sea. Gasum imports natural gas to Finland and promotes circular economy by processing waste and producing biogas and recycled nutrients in Finland and Sweden. The company offers energy for heat and power production, industry as well as road and maritime transport. Gasum is the leading supplier of biogas in the Nordic countries. The company has a gas filling stations network, that also serves heavy-duty vehicles. Gasum is also the leading liquefied natural gas (LNG) player in the Nordic market. The company continues to strengthen the position and infrastructure of LNG and supplies LNG to maritime transport, industry and heavy-duty vehicles in Finland, Sweden and Norway.
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