Annual Report in Short
The energy and climate policies for the past year and the early part of the year 2008 will have a more profound impact on Finland and Helsingin Energia's operations than anything else for some time to come. During the past year, a wide consensus was reached on the importance of combating climate change.
Results for the financial year exceeded the predicted level
Helsingin Energia's results exceeded expectations, and even proved to be the best in the company history. Our excellent profit trend rests on our successful operations in the electricity market.
The Helen Group also recorded excellent results. Free cash flow strengthened further, and the Group's profitability was maintained at a high level.
In retail sale of electricity, Helsingin Energia has succeeded in maintaining the confidence of its existing customers and gaining many new ones.
The use of district heating has expanded at a steady pace in Helsinki along with urban development. However, the exceptionally warm winter diminished heat sales.
The growth in district cooling was favourable. The cooling network was expanded further to new districts in Helsinki.
Eco-efficient city energy
Helsingin Energia is actively involved in curbing climate change. Eco-efficiency is Helsingin Energia's strength, and it is in line with the EU targets of climate policy. In Helsingin Energia's operations, eco-efficiency is implemented in combined heat and power (CHP) generation, district heating and district cooling as well as in advice on sensible use of energy.
In the year under review, Helsingin Energia was among the first companies to join energy efficiency agreements developed in co-operation with the Ministry of Employment and the Economy. Helsingin Energia is involved in programmes of measures relating to energy production and energy services. Helen Sähköverkko Oy, which is responsible for providing electricity distribution and transmission services in the Helsinki area, is involved in the programme relating to electricity distribution.
In the year under review, Helsingin Energia's carbon dioxide emissions decreased by 15%. Acidifying emissions of sulphur dioxide and nitrogen oxides decreased by weight, sulphur dioxide by about a fifth and nitrogen oxides by about 8%.
In the vanguard of customer service in the energy sector
The results of the annual Epsi Rating study show that the retail customers' satisfaction with Helsingin Energia's operations and services rose to top figures. In the corporate image survey conducted in the energy sector, Helsingin Energia also received the best general grade among the companies in the field. Helsingin Energia will also carry on with its operations in such a way that its customers will be satisfied with the company and have confidence in the way it operates.