3 Jul 2020
EUR 60 million
Financial institutions and SMEs
|Date of agreement:||27 May 2010|
|Amount in EUR:||EUR 60 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 10-year-maturity loan totalling EUR 60 million has been provided for carrying out an investment programme with the aim of implementing systems for remote reading in energy metering. The remote reading system is based on two-way communication and includes a variety of features that improves the clients' means for controlling and optimising their use of electricity. The new system will make possible, for instance, real-time readings, meter reading by the hour and same-day change of supplier. Studies show that when customers gain a better understanding of their electricity consumption, it is usually reduced by 5%-10%. The system also improves controlling and planning of the capacity.
Fortum's activities cover generation, distribution and sale of electricity and heat, as well as the operation and maintenance of power plants. The company's operations focus on the Nordic countries, the Baltic rim area and Russia.
The key environmental advantage of the project is an expected decrease in the consumption of electricity by Fortum's clients, as they gain a better understanding of their electricity consumption and the energy invoicing will be based on real consumption figures instead of estimates. Lower consumption results in decreased emissions from energy generation as it is predicted that reduced consumption will help reduce the use of coal.