Annual Report 2012 - Fingrid

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Fingrid in brief Fingrid Oyj is a Finnish public limited liability company responsible for electricity transmission in the high-voltage transmission system in Finland. Fingrid’s nation-wide grid is an integral part of the power system in Finland. The transmission grid is the high-voltage trunk network which covers the entire Finland. Major power plants, industrial plants and regional electricity distribution networks are connected to the grid. The Finnish power system is part of the inter- Nordic power system. The inter-Nordic system is connected to the system in Continental Europe by means of high-voltage direct current transmission links. Moreover, there are high-voltage direct current links from Finland to Russia and Estonia. Fingrid is responsible for planning and monitoring the operation of the Finnish electricity transmission system and for maintaining and developing the system. The company is also to contribute to the work of ENTSO-E, the European Network of Transmission System Operators for Electricity, to the preparation of European network codes, and to European network planning. The transmission system owned by Fingrid encompasses approx. 14,000 kilometres of 400, 220 and 110 kilovolt transmission lines plus more than 100 substations. Fingrid provides its contractual customers, in other words electricity producers, network companies and industrial enterprises, with system, cross-border transmission and balance services. Fingrid serves the electricity market by attending to adequate electricity transmission capacity, by removing transmission restrictions between countries, by providing information on the electricity market, and by harmonising the market rules. Fingrid makes sure that Finland obtains electricity without disturbance. In the next few years, almost 3,000 kilometres of new transmission lines and about 30 substations will be constructed in Finland. Fingrid is owned by the State of Finland (holding 53.1%), Ilmarinen Mutual Pension Insurance Company (19%) and other institutional investors (27%). The company was established on 29 November 1996. Operations started on 1 September 1997. Revenue 522 million euros. Balance sheet total 2.09 billion euros. Owns 19.18 per cent of electricity exchange Nord Pool Spot AS. Number of personnel at the end of the year: 275 (261 in permanent employment). Fingrid is headquartered in Helsinki, and the company also has offices in Hämeenlinna, Oulu, Petäjävesi, Rovaniemi and Varkaus. 4 FINGRID OYJ
Fingrid Oyj’s power transmission sion grid 1 January 2013 400 kV grid (4,400 km) 220 kV grid (2,600 km) 110 kV grid (7,500 km) Plus Fenno-Skan 1 submarine cable 400 kV (100 km) and Fenno-Skan 2 submarine cable 500 kV (100 km) lines of other companies Base map © Karttakeskus Oy, Helsinki Fingrid Oyj, organisation 1 January 2013 Customers and grid planning Asset management Jukka Ruusunen, President & CEO Power system operation Market Finance and business development Personnel, communications and IT Adequacy of transmission system System operation Promotion of market functioning Annual Report 2012 5
Page 1 and 2: FINGRID OYJ Annual Report 2012 2012
Page 3: Contents Fingrid in brief Fingrid
Page 7 and 8: Fingrid’s strategy Our primary ob
Page 9 and 10: We gave as much transmission capaci
Page 11 and 12: Customers and stakeholders Accordin
Page 13 and 14: sion outage situations. The outages
Page 15 and 16: FINGRID’S STAKEHOLDERS AND MEASUR
Page 17 and 18: VARO LIIMASELKÄÄ! Market Committe
Page 19 and 20: Corporate finances Fingrid’s key
Page 21 and 22: congestion income resulting from th
Page 23 and 24: institutional investors. The compan
Page 25 and 26: Power system Fingrid’s transmissi
Page 27 and 28: As a result of numerous constructio
Page 29 and 30: Electricity market Fingrid’s effo
Page 31 and 32: tween Russia and Finland, Fingrid h
Page 33 and 34: Grid development and maintenance Fi
Page 35 and 36: WORK INPUT BY SERVICE PROVIDERS 650
Page 37 and 38: sion system in Western Finland is d
Page 39 and 40: Personnel The objective of Fingrid
Page 41 and 42: took part in the annual “Towards
Page 43 and 44: SUPPORT PROVIDED BY FINGRID’S R&D
Page 45 and 46: Environment Fingrid considers the r
Page 47 and 48: Our primary environmental impacts a
Page 49 and 50: agenda in site meetings. The preser
Page 51 and 52: our substations. According to Stati
Page 53 and 54: grid in the spring of 2012, Fingrid
Page 55 and 56:
Corporate responsibility Supply of
Page 57 and 58:
The objective of our procurement po
Page 59 and 60:
FINGRID’S PRIMARY RESPONSIBILITY
Page 61 and 62:
”Yhteisillä linjoilla”. Fingri
Page 63 and 64:
4.5 Impact of organisation’s perf
Page 65 and 66:
Society Management approach to soci
Page 67 and 68:
Risk management The objective of Fi
Page 69 and 70:
or project is evaluated and reporte
Page 71 and 72:
ally, by using various limits and b
Page 73 and 74:
desire to continuous personal devel
Page 75 and 76:
The primary duties and principles o
Page 77 and 78:
In 2012, the following remuneration
Page 79 and 80:
Internal control The company’s in
Page 81 and 82:
Sirpa Ojala M.Sc. (Tech.), born in
Page 83 and 84:
3 Juha Kekkonen M.Sc. (Tech.), born
Page 85 and 86:
Annual review and financial stateme
Page 87 and 88:
tion. The difference of 0.1 million
Page 89 and 90:
2011). Interest income was 3 (4) mi
Page 91 and 92:
and management of power shortage si
Page 93 and 94:
property, plant and equipment. Equi
Page 95 and 96:
2. Financial statements CONSOLIDATE
Page 97 and 98:
CONSOLIDATED BALANCE SHEET EQUITY A
Page 99 and 100:
CONSOLIDATED CASH FLOW STATEMENT 1
Page 101 and 102:
Research and development Research a
Page 103 and 104:
The asset items subject to deprecia
Page 105 and 106:
ITC compensation Inter-compensation
Page 107 and 108:
Transmission services on the cross-
Page 109 and 110:
Interest expenses on borrowings 36,
Page 111 and 112:
Decreases, depreciation according t
Page 113 and 114:
20. TRADE RECEIVABLES AND OTHER REC
Page 115 and 116:
Balance sheet item 31 Dec 2011 Loan
Page 117 and 118:
Shareholders Number of shares qty O
Page 119 and 120:
27. BORROWINGS, 1,000 € 2012 2011
Page 121 and 122:
29. DERIVATIVE INSTRUMENTS, 1,000
Page 123 and 124:
33. LEGAL PROCEEDINGS AND PROCEEDIN
Page 125 and 126:
Translation exposure, 1,000 € 201
Page 127 and 128:
31 Dec 2011 2012 2013 2014 2015 201
Page 129 and 130:
PARENT COMPANY FINANCIAL STATEMENTS
Page 131 and 132:
PARENT COMPANY BALANCE SHEET SHAREH
Page 133 and 134:
NOTES TO THE FINANCIAL STATEMENTS O
Page 135 and 136:
4. MATERIALS AND SERVICES, 1,000
Page 137 and 138:
11. INCOME TAXES, 1,000 € 2012 20
Page 139 and 140:
Other tangible assets Cost at 1 Jan
Page 141 and 142:
Number of shares, qty Series A shar
Page 143 and 144:
24. LOANS FALLING DUE FOR PAYMENT I
Page 145 and 146:
33. SEPARATION OF BUSINESSES IN ACC
Page 147 and 148:
LIABILITIES Current liabilities Lia
Page 151 and 152:
STOCK EXCHANGE RELEASES IN 2012 20
Page 153 and 154:
Annual Review 2012 153
Page 155 and 156:
Graphic design and layout: Mainos-
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Annual Report 2012 - Fingrid

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