Sustainable economic activities
Economic responsibility contains within it both the sustainability of operations and the economic effects of our actions on others. EPV Energy’s financial responsibility means careful planning of finances and monitoring economic developments. We anticipate factors that may affect our activities in the future and strive to take their effects on our finances into account in both the short and long term.
Successful operating activities have positive effects for society as a whole, and especially for the company’s stakeholders, such as:
The effects of well-considered and successful operating activities can be seen in the form of:
- new jobs
- tax revenue
EPV’s financial success creates the prerequisites for fulfilling the company’s social and ecological responsibilities.
Competitive electricity and heat for our shareholders
We, as a company, do not seek profit with our operations. EPV Energy’s most crucial task is to ensure that the electricity and heat supplied to our shareholders remains competitive. This requires the continuous follow-up of our operating environment and influencing the development of existing production resources. Additionally, the company maintains and develops our readiness to make new investments as the operating environment evolves.
Continuous risk management
EPV implements its comprehensive risk management activities by applying the SFS-ISO 31000 standard and by following the risk management policy approved by the Board of Directors. Risk management is an integral part of EPV’s management system. In 2021, risk assessments were carried out in line with the annual risk management process. As in previous years, a wide group of employees from different business units were involved in the process.
Comprehensive risk management:
- ensures business continuity
- helps us to prepare for unexpected events
- seeks to minimise economic losses
- improves our ability to assess the company’s competitiveness
- ensures a safe working environment
Financial responsibility includes the important task of recognising potential financial risks resulting from changes in the operating environment.
EPV invests in the environment and in the future
Our main task is to ensure our capacity for responsible energy generation and to maintain a competitive production cost price far into the future.
The energy sector is Finland’s most capital-intensive business sector. Power plants and wind farms tie up a large amount of capital over the course of decades. We plan our investments with great care. We are also developing our ability to anticipate our investment needs. We model the coming years’ investment needs and strive to fund them in such a way that our security of supply and equity ratio remain desirable.
Direct financial impacts in 2021
- Purchases: MEUR 410.4
- Pay and other compensation to employees: MEUR 8.8
- Taxes and social expenses: MEUR 2.4
- Property taxes as a whole: MEUR 1.6
- Net financing costs to creditors: MEUR 4.8
- Investments: MEUR 122.0
- Loan repayments to investors: MEUR -64.3