Business year

The Helen Group recorded an excellent result.

Successful measures in the electricity wholesale market, where the price level was higher than anticipated, had an impact on the strong profit trend.

Demand for district heat and district cooling was at a record high level, and the number of customers in Helen’s electricity sales reached an all-time high.

Net sales for 2018 totalled EUR 930 million (EUR 805 million) and operating profit stood at EUR 131 million (EUR 81 million). Operating profit accounted for 14.1 per cent of net sales.

Net turnover, Helen Group

Net turnover € 930 million

  %
Electricity
sale, total
35
Electricity
transmission
sale
13
District heating 47
Other returns 5

Investment

The investments in Helen Ltd’s production structure amounted to EUR 32 million. The investments include increasing renewable energy in district heat production, heat pumps, heat storage, and solar power plants.

Investment in emissions reduction consists of investments in the reduction of nitrogen oxide and sulphur dioxide emissions in heating plants.

 Investment in production plants by Helen

  %
Climate-neutral
production
41
Eemissions
reduction
3
Maintenance of
production plants
56

District heat and district cooling

District heat sales grew on the previous year, standing at 6,702 GWh. The number of district heat connections also continued to rise, totalling 15,398.

District heat accounts for 90.4 per cent of the heated cubic volume of buildings in Helsinki. The overall price of district heat in Helsinki was at the average level in the country.

The sale of district cooling energy also grew strongly on the previous year to 188 GWh. The number of district cooling connections continued to increase: their total number was 387 at the end of 2018.

District heat sales

GWh

  Sales
2014 6377
2015 6019
2016 6633
2017 6606
2018 6702

District heat connection power

MW

  MW
2014 3267
2015 3304
2016 3344
2017 3401
2018 3408

Electricity sales

A total of 6,578 GWh of electricity was sold. This was up by 7 per cent on the previous year.

The market price of electricity was at a high level throughout the year, rising further in the second half of the year as a result of low rainfall towards the end of the year and the increased cost of fuels and emissions allowances.

Spot price, Finland's area price

Electricity distribution

Electricity distribution in Helsinki was at the previous year’s level, standing at 4,413 MWh.

The reliability of the electricity network in Helsinki is outstanding. In 2018, an electricity user in Helsinki had, on average, only one power cut lasting five minutes during the year.

Distribution of electricity consumption in Helsinki 2018

  %
Outdoor lighting 1
Services 55
Electric rail 5
Industrial 6
Housing 32

Consumption of electricity in Helsinki in total

  Consumption, GWh
2014 4394
2015 4317
2016 4424
2017 4404
2018 4413

 

Reliability of electricity distribution

  The annual interruption duration per client, minutes
2014 2.4
2015 4.1
2016 1.9
2017 3.3
2018 4.9

Electricity production for the wholesale market

A total of 6,730 GWh of electricity was produced for the wholesale market in the power plants in Helsinki and through power assets and procurement. The volume of electricity production increased clearly from normal levels along with the rising market price.

The share of climate-neutral production forms of total electricity generation was about 35 per cent, while renewables accounted for 13 per cent. The low water supply situation affected negatively the production of hydropower.

Origin of electricity %
Coal 31
Nuclear power 22
Renewable sources 13
Natural gas 34

 Energy sources for district heat

Source %
Coal 53
Oil 1
Bio 3
Natural gas 35
Heat pumps 8

We produced 7,200 GWh of district heat, which is more than in the previous year. Our energy production with coal was reduced, and the share of natural gas production increased.

The amount of energy we produced with heat pumps remained at the previous year’s level.

The amount of wood pellets we burned in 2018 was down due to production problems in the Salmisaari pellet-fired heating plants. We continued mixed combustion of wood pellets in the Hanasaari and Salmisaari power plants.

 Energy sources for district cooling

Source %

Absorbtion

8

Compressors

7
Sea water 1

Heat pupms

84

District cooling production increased strongly in 2018, amounting to 187 GWh.

Read more about production in our corporate social responsibility report.

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