17 Sep 2020
EUR 24.77 million
Financial institutions and SMEs
|Date of agreement:||26 Oct 2009|
|Customer:||Helen Electricity Network Ltd.|
|Amount in EUR:||EUR 28 million|
|NACE sector / loan type:||Electricity, gas, steam and hot water supply|
|Business area:||Energy and water|
This loan contributes to climate change mitigation: 100%
The loan has been provided for an investment programme for the development of automated systems that measure and control electricity consumption in households.
When the investment programme is completed, by the end of 2013, some 350,000 households and other consumption sites in Helsinki will be connected to the new remote reading system. The remote reading system includes a variety of features that will improve the clients' means of controlling and optimising their use of electricity, for example, the possibility of real-time readings. As a result of the new system, energy consumption is expected to decrease by around 5% annually.
The key environmental advantage of the project is a projected decrease in energy consumption by Helen Electricity Network's clients as they will gain a better overview of their electricity consumption and their electricity bills will be based on real consumption instead of projections. Because decreased consumption results in a decrease in energy production the project will result in reduced emissions from energy production using fossil fuels. The project has no negative environmental impacts.