Fortum completes smart meters installation project

Espoo, Finland, 2013-10-04 14:45 CEST (GLOBE NEWSWIRE) -- PRESS RELEASE 4 October 2013

Fortum has completed the installations of new smart electricity meters in Finland. A total of 610,000 smart meters were installed over the course of three years in Fortum’s distribution areas.

The new meters are part of the smart electricity network of the future, enabling more efficient energy use and supporting the transition towards a more ecological energy system. Additionally, the smart technology helps to reduce the number and duration of power outages.

“Our studies show that Finnish consumers are increasingly interested in their own electricity consumption, and consumer interest in electricity consumption will increase when shifting to the hourly measurement of electricity consumption and real-time billing,” says Fortum’s Timo Karttinen , Executive Vice President, Electricity Solutions and Distribution. “Our Finnish customers can look up their electricity consumption online through the Fortum Valpas service, where consumption can be monitored on an hourly basis.”

Minister of Housing and Communications, Pia Viitanen , delivered the Finnish Government’s greetings to the official closing of the project. "The smart electricity network gives all Finns the possibility to make choices that conserve energy and the environment. I am delighted that Fortum’s project put the customer first and that the company already has a number of services that take advantage of the attributes of the new meters," said Minister Viitanen in Espoo today, October 4.

Finnish legislation requires hourly-based meter reading by the end of 2013. The system to be deployed for Fortum’s customers makes it possible to offer advanced services that are well beyond the minimum requirements set by law.

Close to 200 people worked in the project, and a completely new meter management system supplied by Schneider Electric was deployed. Eltel Networks was responsible for installation of the meters. To date Fortum has not been able to install new meters to approximately 0.5 per cent of its distribution customers in Finland. These locations are typically summer cottages. Fortum's aim is to install new meters also to the remaining customers in the coming months.

“Fortum’s Smart meters project succeeded beyond all expectations,” says Project Manager Harri Hauta-aho . “The meters were installed according to schedule and our customers provided very good feedback about the installation technicians.”

Fortum Corporation Corporate Communications

Additional information: Harri Hauta-aho, Project Manager, Fortum’s Smart Meters project, harri.hauta-aho@fortum.com , tel. +358 405139961

Miriikka Laakkonen, Communications Manager, Fortum miriikka.laakkonen@fortum.com , tel. +358 400 259 088

Fortum

Fortum’s purpose is to create energy that improves life for present and future generations. We provide sustainable solutions that fulfil the needs for low emissions, resource efficiency and energy security, and deliver excellent value to our shareholders. Our activities cover the generation, distribution and sales of electricity and heat as well as related expert services.

Fortum’s operations focus on the Nordic countries, Russia, Poland and the Baltics. In the future, the integrating European and fast-growing Asian energy markets provide additional growth opportunities. In 2012, Fortum’s sales totalled EUR 6.2 billion and comparable operating profit was EUR 1.7 billion. We employ approximately 10,400 people. Fortum’s shares are quoted on NASDAQ OMX Helsinki.   Additional information: www.fortum.com