Business year

Business year 2020

Helen Group’s profit trend continued at an excellent level.

Helen Ltd was able to utilise the electricity market situation and its fluctuations with successful measures in the electricity wholesale market. The price trend of fuels and the profitable growth in the electricity retail sales also supported the excellent level of operating profit.

The number of customers grew to a record level: more than 550,000 electricity customers and almost 16,000 heat customers at the turn of the year.

Net sales for 2020 totalled EUR 1.054 million (EUR 1,151 million) and operating profit stood at EUR 176 million (EUR 176million). Operating profit accounted for 16.7 per cent of net sales.

Net turnover, Helen Group 2020

Net turnover € 1054 million

sale, total
District heating 38
Cooling 2
Other returns 2


The Group’s investments totalled EUR 201 million. Investments in the parent company’s production structure amounted to EUR 93 million, of which the district heat and district cooling networks account for a total of EUR 35 million.

The value of the investments in the electricity network stands at EUR 23 million. The investments of Tunneliverkko and Mankala were both EUR 2 million.

Wind power investments in Lakiakangas 3 totalled EUR 42 million and in Tupaneva EUR 4 million. Other investment areas were mainly new services and solutions.

 Investment in production plants by Helen

Maintenance of
production plants

District heat and district cooling

District heat sales fell on the previous year, standing at 5829 GWh. On the other hand, the number of district heat connections grew, totalling 15,560.  

The share of district heat in the heated cubic volume of buildings in Helsinki was 90 per cent.  

At 169 GWh, the sales of district cooling energy fell slightly on the previous year. However, the number of district cooling connections increased: at the end of 2020 their total number was 463.

District heat sales


2017 6606
2018 6702
2019 6556
2020 5829

District heat connection power


2016 3344
2017 3401
2018 3408
2019 3445
2020 3534

Electricity sales

A total of 6,032 GWh of electricity was sold, down by 11 per cent on the previous year.  

The market price of electricity remained high until late in the year. Price fluctuations were moderate during the year, and there were no particularly high or low short-term price periods. During December, the price of electricity fell significantly as a result of wet and warm weather conditions.

Spot price, Finland's area price

Electricity distribution

Electricity distribution in Helsinki was at the previous year’s level, standing at 4,178 GWh.  

The reliability of the electricity network in Helsinki is outstanding. The average outage time of electricity distribution per customer was 1.2 minutes. The result is a European record.

Distribution of electricity consumption in Helsinki 2020

Outdoor lighting 1
Services 54
Electric rail 4
Industrial 5
Housing 36

Consumption of electricity in Helsinki in total

  Consumption, GWh
2016 4424
2017 4404
2018 4413
2019 4383
2020 4178


Reliability of electricity distribution

  The annual interruption duration per client, minutes
2016 1.9
2017 3.3
2018 4.9
2019 1.5
2020 1.2

Electricity production for the wholesale market

A total of 6,113 GWh of electricity was produced for the wholesale market in the power plants in Helsinki and through power assets and procurement. This is slightly less than in the previous year.  

The price of electricity, which grew in the summer, enabled an increase in natural gas production. On the other hand, the share of natural gas production at the end of the year was lower than anticipated, with the temperature remaining above zero.  

The share of emission-free production of total electricity generation was about 39 per cent, while renewables accounted for 16 per cent. The production of hydropower plants was reduced further by a poor water supply situation.  

Origin of electricity %
Coal 22.5
Nuclear power 23.6
Renewable sources 15.6
Natural gas 38.3

 Energy sources for district heat

Source %
Coal 46
Oil 1
Bio 3
Natural gas 42
Heat pumps 8

Helen produced 6,420 GWh of district heat, which is slightly less than in the previous year. The beginning and the end of the year were warmer than normal and, as a result, heat production remained lower than expected.

 Energy sources for district cooling

Source %




Sea water 5

Heat pupms


Helen produced 179 GWh of district cooling, which is slightly less than in the previous year.

More information about production is available in the responsibility report.