Economic responsibility

Economic responsibility is a basic requirement for our operations.

Taloudellinen vastuu

Economic responsibility is a basic requirement for our operations. With our operations, we create value for our customers and for society, as well as for our owner, the City of Helsinki.

We aim to increase the market share of our current products in a profitable way and to launch new and growing energy solutions and services on the market. We also aim to improve the efficiency of our operations in order to ensure the competitiveness of our services and continuity of our operations.

Helen recorded an excellent financial result for 2018. The market price of electricity in the Nordic countries was at a high level throughout the year, rising strongly in the second half due to low rainfall towards the end of the year and the increased cost of fuels and emission allowances. The volume of power production increased clearly on the normal level along with the price.

During 2018, we continued the planning of our extensive investment programme. We aim to make progressive investments to reduce emissions and increase renewable energy and to utilise all the opportunities offered by new technologies.

In 2018, we invested EUR 14 million in reducing emissions and increasing renewable energy. Our biggest investment projects in 2017–2018 were the Salmisaari pellet-fired heating plant and the Esplanade heating and cooling plant. 

In 2018, Helen Ltd paid EUR 31 million in dividends on its 2017 results to its owner, the City of Helsinki (EUR 20 million in 2017).


The tax footprint describes our impact on the society. In 2018, Helen Ltd and its subsidiaries Oy Mankala Ab, Helen Electricity Network Ltd, Helsingin Energiatunnelit Oy and Suomen Energia-Urakointi Oy paid a total of EUR 137 million in various taxes and tax-like payments (EUR 118 million in 2017). We also have an indirect impact on the tax revenues for the state and several municipalities by employing almost 1,100 people.

Helen Ltd and its subsidiaries pay all their taxes in Finland.

Taxes and tax-like payments 2018

Tax %
Corporation tax 16
Fuel tax 73
Real estate tax 1
Employer's contributions 10

The Helen Group paid a total of EUR 137 million in taxes and tax-like payments.

Taxes remitted in 2018

Tax %
Electricity tax 40
VAT remitted
to the tax authority
Withholding tax 7

Electricity taxes paid by the customers of the Helen Group, withholding taxes on our employees’ wages, and value added tax amounted to a total of EUR 237 million.


We aim to promote sustainability in our procurement. In 2018, we prioritised the sustainability of supply chain as one of the most material sustainability issue, so during the coming years we will focus to develop the sustainability of our supply chain.

We take sustainability into account in the entire procurement process whenever possible. We also make an effort to take the entire lifecycle of products and services into consideration. Our procurement processes comply with the legislation and regulations in accordance with our ethical guidelines and good business practice. In procurement, we ensure that any conflicts of interest have no impact on the handling of purchases or decision-making. We do not accept bribery in supplier cooperation. In 2018 we updated the internal guideline for responsible procurement. 

In connection with competitive tendering, we request all tenderers to submit an account of the way they observe sustainable development in their operations and, having regard to the nature of procurement, we appreciate consideration of sustainability in the criteria used in the tendering process. We also ask for further information on individual purchases with respect to, e.g. sustainability considerations related to the manufacture, use and disposal of products or the provision of a service. We require our contractors to act responsibly and to comply with the law.

We do not accept grey economy in any shape or form. We verify that our suppliers are registered in the trade, prepayment, employer and VAT registers. We also investigate whether the company has paid its taxes and statutory pension insurance contributions, and whether it complies with the collective bargaining agreements for the sector or the key contents of the terms of employment and provides occupational health services. Furthermore, we monitor together with our suppliers that the agreed matters are carried out also with respect to the subcontractors.

We monitor the responsibility of our suppliers with audits, if necessary, and are a member of the HSEQ cluster. In the cluster, we assess occupational health and safety issues, environmental responsibility and quality output in partnership with other industrial client companies.