Subsidiaries and associated companies
Oy Mankala Ab
Hydropower production up from a normal year
In 2007, Mankala produced 147,851 MWh, Ahvenkoski 131,447 MWh, Klåsarö 29,431 MWh and Ediskoski 2,920 MWh of energy. Production was slightly up from a normal year.
Due to the abundant rainfall in 2006, the level of Lake Päijänne was above the average for some time in the first half of 2007. After that, the level remained below normal values for the period for the rest of the year. In the first quarter, discharge values were considerably higher than normal. As the water equivalents of snow for the winter and spring remained very low, discharges were diminished to a great extent in March-April, after which they remained lower than normal for the rest of the year, apart from a couple of periods. The average discharge for the entire year was 226 m³/s, which is 94% of the long-term average.
The most significant maintenance measures were the repair work on the surface structures of the spillway bridge of the Mankala power plant, which proved to be a much more extensive project than originally expected, because its condition was much poorer than anticipated. The automation and turbine control systems of the Klåsärö power plant were replaced. The generator excitation systems of the Ahvenkoski power plant were replaced.
Oy Mankala Ab operates on the absorption principle. The company's turnover for 2007 totalled EUR 22.6 million.
Real Estate Company Helsingin Sähkötalo
Sähkötalo business premises to be part of the Kamppi Centre
Lasting for about 1.5 years, the renovation work on Sähkötalo was completed on schedule. The lowest floors of the building were converted into business premises. An essential part of the renovation work was to incorporate Sähkötalo in the Kamppi Centre. The main part of the new business premises was opened in October 2007.
In total, there are about 4,150 square metres of business premises to be let. Furthermore, new facilities for Helsingin Energia's customer and advisory services were built on the third floor. Sähkötalo is still Helsingin Energia's Main Building.
SRV Viitoset Oy was responsible for the renovation and marketing of the Sähkötalo premises. The set targets were reached in leasing the commercial premises.
Suomen Energia-Urakointi Oy
Operational volume and profitability remained at a good level
The company's turnover amounted to EUR 38 million, with profit for the financial period being EUR 1.8 million. The company was able to maintain its operational volume and profitability at the previous long-term level, despite a fall in profitability in the early part of the year. This was due to a significant increase in the price of installation equipment, especially cables, which was a result of the price trend in raw materials. Changes in the customer base along with the unbundling of electricity network operations were stabilised in terms of organisation and operations.
The key proportion of the company's installation activities still consisted of the construction and maintenance of medium and low-voltage networks, traffic lights and lighting networks in the Helsinki region and in Lahti and its surroundings. It also carried out, e.g., transformer substation and switchgear installations in buildings.
The company's ownership structure underwent a significant change when the shares owned by Fortum Corporation were transferred to the current owners in a share transaction. This increased Helsingin Energia's shareholding from 44 to 60%.
Review of Helsingin Energia's key associated companies
The production and availability of the Olkiluoto plants of Teollisuuden Voima Oyj were of extremely high standard even on the global scale. The company's turnover for the year of operations totalled EUR 225 million and it supplied a total of 15,723 GWh of electricity.
The year was characterised by the progress in the Olkiluoto 3 construction project and its schedule challenges.
The company was registered as a public limited company on 31 December 2007, as a result of which the company name is Teollisuuden Voima Oyj as of this year.
Suomen Hyötytuuli Oy is the leading wind energy producer in Finland. It is owned by nine major Finnish city energy companies. In addition to wind power production, the company's operations include marketing, research and product development in wind power.
In the year under review, it produced 56.8 GWh of electricity: 27.9 GWh at the Pori wind park and 28.9 GWh in Raahe. Production in Raahe exceeded the estimate, whereas Pori remained slightly under the estimated target. Overall production for the year remained slightly under the estimated amount.
Helsingin Energia gained experience in wind power production not only through Hyötytuuli, but also with the Olkiluoto wind power of TVO and the wind power production of Tunturituuli Oy.
Helsingin Energia gained hydro and nuclear power through Etelä-Pohjanmaan Voima Oy. The company also developed various projects in renewable energy for the needs of its shareholders.
Kemijoki Oy is Finland's most significant producer of hydropower and related services. The company owns 20 hydropower plants, 16 of which are located in the River Kemijoki water system, two along the River Lieksanjoki and two on the River Kymijoki. It also regulates the Lokka and Porttipahta reservoirs and Lake Kemijärvi and Lake Olkkajärvi. The electrical energy produced by the power plants is transmitted to the company's hydropower shareholders.
In the year under review, the hydropower plants generated a total of 4,381 GWh of electricity. The power plants located in the River Kemijoki water system produced 3,995 GWh, the River Kymijoki power plants 217 GWh and the River Lieksanjoki power plants 168 GWh of electricity. Annual production corresponded to average hydropower production.
The overall availability having an impact on the production of the hydropower plants was high, 97.2 %. This corresponds to the long-term average.
The company has continuously invested in power upgrades in power plants, starting from 1996.
Renovation and improvement of old power plant machinery enables economical increase in hydro power with excellent regulation properties. The upgrade programme will increase production by 230 MW by 2017. The upgrades will increase the annual production of renewable and emission-free energy by 240 GWh.
Oy Mankala Ab is a hydropower company owned by Helsingin Energia. The company owns the Mankala, Ahvenkoski, Klåsarö and Ediskoski hydropower plants along the River Kymijoki. Oy Mankala Ab has an 8% share in Teollisuuden Voima Oy.
Real Estate Company Helsingin Sähkötalo is Helsingin Energia's subsidiary responsible for the development of the Sähkötalo real estate.
Suomen Energia-Urakointi Oy is a service company specialised in electronic urban services, providing design, installation, operation and data transmission services in networks and equipment related to electricity transmission, distribution and use. Helsingin Energia owns about 60% of the company. The other owners are Vantaa Energy Ltd and Lahti Energy Ltd.