Economic responsibility

We act in an economically responsible way.

Taloudellinen vastuu 2019

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 2019. The Group’s results improved on the previous year. The development was attributable to the cost-based price changes in district heat, the market price of electricity and the sale of the subsidiary Suomen Energiaurakointi Oy. Helen Ltd was able to utilise the electricity market situation and increase the operating profit with successful measures in the electricity wholesale market.  

During 2019, we continued the planning and implementation 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.  

Helen is investing especially in increasing renewable energy in district heat production, recycling of energy with heat pumps and the security of supply in the energy networks. In 2019, we invested EUR 56 million in reducing emissions and increasing renewable energy. Our largest investments were the pellet-fired heating plant, the cavern heat storage facility in Mustikkamaa, heat pumps, and the modernisation of the Lassila heating plant.  

In 2019, Helen Ltd paid EUR 51 million in dividends on its 2018 results to its owner, the City of Helsinki (EUR 31 million in 2018).

TAX FOOTPRINT

The tax footprint describes our impact on society. In 2019, 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 139 million in various taxes and tax-like payments (EUR 137 million in 2018). We also have an indirect impact on the tax revenues for the state and several municipalities by employing almost 1,000 people.  

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

Taxes and tax-like payments 2019

Tax %
Corporation tax 14
Fuel tax 76
Real estate tax 1
Employer's contributions 9

The Helen Group paid a total of EUR 139 million in taxes and tax-like payments.

Taxes remitted in 2019

Tax %
Electricity tax 38
VAT remitted
to the tax authority
56
Withholding tax 6

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 244 million.

SUSTAINABLE PROCUREMENT

We aim to promote sustainability in our procurement. We take sustainable development 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 own 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 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 sustainable development in the criteria used in the tendering process. We also ask for further information on individual purchases with respect to, e.g. sustainable development 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.

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.

See also


Responsibility management

We aim to be the most responsible operator in the market. We are developing new, more sustainable energy solutions for our customers.


Environmental responsibility

Reduction of environmental impacts is an important part of our activities. Our long-term goal is climate-neutral energy production.


People

Our operations have an impact on many people. We want to create and maintain an open dialogue with our stakeholders.

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