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Hydro power helps push up Finnish utility’s net sales

Electricity demand in Finland grew by 2% in 2000 and competition in the electricity market continued to increase. Total energy sales of Finnish energy producer Kyro Power amounted to 843,000MWh during this period, of which electricity accounted for 504,00MWh and heat 339,000MWh. The company’s Kyroskoski hydro power plant sold 53,900MWh of electricity while its gas-fired power plant sold 450,00MWh of electricity and 340,00MWh of heat.

Kyroskoski, an underground plant, has generated an annual average of 49,800MWh during its first three years of production; 20% more than planned.

Kyro Power has revealed in its annual report that its net sales increased by 2.3% in 2000 due to increased forest industry production, although its operating profit dropped slightly due to rising fuel prices. The company has long term energy supply contracts with industrial companies and electricity retailers and wholesalers. It believes that the sharp price fluctuations in the electricity spot market during 2000 emphasised the positive influence of such long term energy supply contracts.