ANNUAL REPORT 2003 - Fingrid

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INTERNATIONAL BUSINESS OPERATIONS In Estonia, Fingrid assisted Eesti Energia’s grid business to draw up documentation for the building of the Balti 330/110 kilovolt substation, and was involved in the preparation of purchasing documents for Tallin Elektrijaama’s 110 kilovolt gas-insulated substation. Fingrid also participated in the assessment of bids submitted. The training of Estonian experts continued. A project was completed in Latvia, with Fingrid participating in the rearrangement of the Latvian energy business as a consultant of the Latvian Ministries of Economy and Finance. This project involved a series of seminars discussing the development of the electricity market in the Baltic countries. A joint project with Lietuvos Energija and Elkraft System was launched in Lithuania for the broad development of the Lithuanian electricity market and Lietuvos Energija as a national grid operator. An analysis ordered from Fingrid by Eesti Energia, Lietuvos Energija and DC Baltija of the arrangement of reserve and regulating power market to be applied to the power system in the Baltic countries was completed. In Russia, a project funded by the World Bank was launched, with Fingrid participating in the consulting of RAO EES Rossii. The goal of the project is to develop information exchange between parties operating in the Russian electricity market. 15
PERSONNEL F ingrid’s personnel policy was updated, and equality principles were drawn up for the company. Fingrid participated in a personnel management benchmarking study. On the basis of the key figures, Fingrid’s ranking was better than average among the reference group. The focus in personnel training was on information technology and language training. Training sessions in time management and interaction skills were arranged for supervisors. Fingrid applies a pay system which is based on the requirements of each position to the various personnel groups. Moreover, there are quality, incentive and suggestion bonus schemes. At 31 December 2003, the Fingrid Group had 218 employees while the corresponding figure a year before was 210. 16
Page 1 and 2: ANNUAL REPORT 2003
Page 3 and 4: REVIEW BY THE PRESIDENT Fingrid’s
Page 5 and 6: FINGRID PLC ap TIMO TOIVONEN, Presi
Page 7 and 8: GRID SERVICES In 2003, Fingrid tran
Page 9 and 10: GRID DEVELOPMENT AND CAPITAL EXPEND
Page 11 and 12: ENVIRONMENT The environmental impac
Page 13: FINGRID VARAVOIMA OY T the company
Page 17 and 18: BOARD OF DIRECTORS Pertti Simola Ti
Page 19 and 20: FINANCIAL STATEMENTS REPORT OF THE
Page 22 and 23: CONSOLIDATED PROFIT AND LOSS ACCOUN
Page 24 and 25: SHAREHOLDERS' EQUITY AND LIABILITIE
Page 26: CONSOLIDATED KEY INDICATORS 1999 20
Page 29 and 30: BALANCE SHEET PARENT COMPANY ASSETS
Page 31 and 32: CASH FLOW STATEMENT PARENT COMPANY
Page 33 and 34: 2. TURNOVER BY BUSINESS AREAS The b
Page 35 and 36: 12. TANGIBLE ASSETS, 1,000 € Grou
Page 37 and 38: 17. UNRECORDED EXPENSES AND PAR VAL
Page 39 and 40: 21. BONDS, 1,000 € Group Parent c
Page 41 and 42: 30. RISK MANAGEMENT The risk manage
Page 43: THE BOARD OF DIRECTORS’ PROPOSAL
Page 46: FINGRID OYJ ARKADIANKATU 23 B, P.O.

ANNUAL REPORT 2003 - Fingrid

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