Helsinki, Finland, 2014-09-03 09:00 CEST (GLOBE NEWSWIRE) --
Fingrid Oyj
Stock Exchange Release 3 September 2014, at 10:00 am (EET)
Fingrid has set its grid fees annually with the aim of moderate profit permitted by the authorities. This year however, the predicted result is about to increase higher than estimated, due to market-driven revenue and expenses having been realised differently than anticipated. Fingrid has therefore made the decision to lower its grid fees for December by approximately 50 per cent.
Fingrid has made also a decision of the pricing for the year 2015. Next year's grid service prices will be cut by an average of 2 per cent compared to this year's current unit prices.
The group's profit for the entire year 2014 before taxes and without any changes in the fair value of derivatives is estimated to be on the same level as last year. The uncertainty involved in reserve costs, congestion income, loss energy costs and in cross-border income on the interconnections from Russia makes it difficult to anticipate Fingrid’s financial result for the entire year.
Further information:
Jukka Ruusunen, President & CEO, tel. + 358 (0)40 593 8428
Jan Montell, Chief Financial Officer,tel. + 358 (0)40 592 4419