Espoo, Finland, 2013-09-24 07:30 CEST (GLOBE NEWSWIRE) -- PRESS RELEASE 24 September 2013
Fortum and the City of Stockholm have renewed their co-ownership agreement over Fortum Värme, the jointly-owned power and heat company operating in the capital area in Sweden. The renewal secures a continuation of the existing, successful partnership.
The agreement was approved by the Stockholm city council yesterday and will come into force as of 2016, when the existing ownership agreement expires. The decision in Stockholm city council is still subject to coming into legal force.
Fortum Värme has developed well under the City and Fortum's co-ownership under the past decade. The company will continue its investments in sustainable energy production. The new partnership agreement has no impact on customers.
Håkan Grefberg, Vice President, Fortum Heat, tel. +46 706 830 700
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.