HelenElectricity
Number of household customers increased
The turnover of HelenElectricity' was EUR 178 million. HelenElectricity sold a total of 3,679 GWh of electricity to enterprises and households all around Finland. The corresponding sales volume in the previous year was 3,912 GWh.
At the beginning of February, HelenElectricity adopted a new practice and started to procure the bulk of the electricity to be sold directly form NordPool, the Nordic power exchange, buying only specified special electricity types from the OTC market. Due to the change in the practice, Helsingin Energia can flexibly meet customers' expectations and requirements concerning the methods of electricity generation.
The market price of electricity fluctuated vigorously in the course of the operating year. The steep fluctuation was mainly due to significant rises in fuel prices in the spring, while towards the end of the year it was due to a fall in fuel prices caused by a drastic downturn in the global economy. Electricity retailers faced additional challenges posed by the exceptionally long-term and big price differences between the area price for Finland and the Nordic system price. This structural problem is related to the insufficient dimensioning of grid connections and practices followed by markets. HelenElectricity continued to be active in making development proposals to reduce the number of so-called congestion problems.
There was a significant increase in electricity sales to households, in terms of both customer numbers and sales volumes. Along with a co-operation agreement previously concluded with VVO, a good 30,000 VVO residents became customers of Helsingin Energia in the review year.
We succeeded in keeping the retail prices of electricity exceptionally competitive: For a typical multi-storey dwelling, the price difference between us and the largest actor in the sector was 30% at the end of the year, and for long-term customers 40%.
Sales to corporate customers fell slightly during the operating year, mainly because competition for new customers resulted in a market price level that was commercially often non-profitable, and the acquisition of uneconomic new customers could not be regarded as an appropriate target worth aiming at.
Excellent results in service level measurements
According to the international EPSI Rating study, Helsingin Energia's private and corporate customers are clearly more satisfied with the image, service level, technical quality and the price/quality ratio of Helsingin Energia than the average of the sector. The study showed that Helsingin Energia was clearly No. One in customer satisfaction and loyalty, as compared to the largest energy companies in Finland, among both private and corporate customers. The excellent result was attained for the second year running.
New services for household and corporate customers
In June, we introduced a HomeSpot product, which is tied to the market price and intended for household customers. The price of HomeSpot energy is determined on a monthly/hourly basis according to the NordPool exchange price. The product range was extended further in the autumn by introducing a HomeSpot Electricity Basket. In this composite product, half of the price is determined on the basis of the product whose price is valid until further notice and the other half according to the HomeSpot product. The customer can use the Electricity Basket composite products to increase or decrease the effect of the changes caused by the fluctuation of the wholesale price on his/her own electricity price.
The Sähkömarkkinaviikko report (Electricity Market Weekly) aimed at our corporate customers was developed further, and our customers gave us favourable feedback on the revamped report.
At the end of the year, we introduced the energy performance certificate service, with the help of which our customers can create energy performance certificates online for their residential real estates.
Environmental penny electricity
At the end of the review year, Helsingin Energia had 5,839 environmental penny customers, of which 5,370 bought electricity produced by wind power and 469 bought museum hydropower. The sale of environmental penny electricity to new customers had to be interrupted until further notice, because a shaft of a turbine in the Museum Hydropower Plant was broken. The damage occurred in a situation where almost our entire wind power capacity was sold out. We reserved shares of the wind power generated by the Meri-Pori and Raahe wind farms for our museum hydropower customers. Efforts will be made to repair the turbine of the Museum Hydropower Plant by spring 2009.
At the end of the review year, the sum in the Penny for the Environment account was EUR 990,979. The Environmental Penny Committee decided that the money will be used to increase wind power generation, and the key allocation will be directed to the construction of an offshore wind farm.
HelenElectricity is responsible for electricity sales to households, enterprises and other energy companies at the national level. HelenElectricity has been divided into units that serve large corporations and SMEs as well as people living in detached houses and blocks of flats. HelenElectricity had 29 employees at the end of 2008.
Average price of electricity
