EPV Energy Ltd (EPV) is a Finnish energy company that generates and acquires electricity and heat for its shareholders, i.e. Finnish energy companies, at a production cost price. This is known as the Mankala principle and it enables shareholders to engage in extensive energy projects, while ensuring low production costs.
EPV Energy has more than 65 years’ experience of responsible energy generation, and even now we continue to focus on emission-free, reliable generation with determination and purpose. The company has made significant improvements in its range of energy generation services, which has resulted in a considerable reduction of carbon dioxide emissions. EPV Energy’s goal is to achieve climate-neutral electricity generation by 2035.
The company is a leader in emission-free energy generation, for example in utilising wind power and domestic forest energy. In line with EPV Energy’s strategy, we will also continue our purposeful work towards emission-free energy generation in the future.
In 2018, the Group’s total power procurement was 4,915 GWh. This corresponds to 5.6% of the total electricity consumed in Finland. Last year, a larger proportion of energy than ever was generated emission-free:
- Nuclear power 1,180 GWh
- Hydropower 1,016 GWh
- Wind power 721 GWh
- Coal 473 GWh
- Peat 627 GWh
- Biofuels 280 GWh
In 2018, the average carbon dioxide (CO2) emissions of the electricity supplied by EPV were 212.3 g/kWh. The average use of nuclear fuels in the generation of the electricity supplied to the company’s shareholders was 0.7 mg/kWh.
The average emissions of the electrical energy acquired through generation shares were:
- Nitrogen oxides emissions 241 mg/kWh
- Sulphur dioxide emissions 180 mg/kWh
- Particle emissions 7.5 mg/kWh
More than 65 years in business
Founded in 1952, EPV Energy was first known as Etelä-Pohjanmaan Voima. The company’s roots are in Ostrobothnia where the region’s electric power plants opted to join forces as the demand for electricity grew.
Over the decades, EPV Energy has expanded its operations to cover the whole country and also into Sweden and Norway. Nevertheless, the original business idea of acquiring cost-effective energy for shareholders still holds.
| Assets MEUR (balance, assets) | 2014 | 2015 | 2016 | 2017 | 2018 |
|---|---|---|---|---|---|
| Non-current assets | 399.60 | 497.77 | 531.73 | 626.86 | 630.49 |
| Inventories | 4.82 | 6.19 | 5.56 | 5.82 | 5.94 |
| Non-current receivables | 65.08 | 63.04 | 35.26 | 38.79 | 45.30 |
| Current receivables | 44.23 | 103.88 | 76.04 | 75.08 | 66.20 |
| Receivables, marketable securities, cash and cash equivalents | 35.80 | 40.59 | 71.24 | 50.69 | 79.53 |
| Altogether | 549.53 | 711.47 | 719.83 | 797.24 | 827.46 |
| Liabilities MEUR (balance, liabilities) | 2014 | 2015 | 2016 | 2017 | 2018 |
|---|---|---|---|---|---|
| Equity | 284.74 | 359.72 | 346.11 | 356.41 | 345.81 |
| Minority interest | 7.86 | 7.54 | 7.61 | 7.99 | 8.09 |
| Non-current liabilities | 210.47 | 280.75 | 294.37 | 330.18 | 373.76 |
| Current liabilities | 46.46 | 63.46 | 71.74 | 102.66 | 99.80 |
| Altogether | 549.53 | 711.47 | 719.83 | 797.24 | 827.46 |
