Electricity market
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Theme: Electricity markets. Fortum’s perspective of the theme’s key issues. WHO Timo Karttinen Executive Vice President, Electricity Solutions and Distribution, Fortum Corporation; Country responsible for Finland and Norway since 2009. Born 1965, M.Sc. (Eng), member of the Fortum Management Team since 2004. Employed by the company since 1991. The authorities monitor distribution operations and the profits from it. Taxes, the third component of an electricity bill, account for the fastest growth in consumer electricity bills in recent years. In the nordic countries taxes make up a notable part of the household electricity price. Already today a significant share of customers in the nordic countries use the opportunity to choose from the electricity suppliers, production forms and electricity products available in the market. So far, the electricity retail markets in the nordic countries have been national, but the trend is moving towards integrated markets, which will give consumers an even broader freedom of choice. The nordic Council of Ministers is aiming for 2015 when for example Swedish consumers could purchase electricity directly from, say, a danish wind power producer. The goal of the integrated nordic retail market is to promote efficiency, increase competition and to more quickly reflect the price signals of the electricity wholesale markets. This is expected to give consumers better, more versatile service and a more competitive price. When the electricity markets function more efficiently, the overall costs for society decrease. along with nordic integration, the electricity markets are being strongly influenced by the EU’s shared energyefficiency targets. In the future, an electricity company will provide consumers with more extensive tools to facilitate the monitoring It is up to the electricity company to help consumers conserve energy. of energy consumption and price. Smart electricity meters are a good example of this. The meters and hourly metering will give consumers the opportunity to monitor their own electricity consumption nearly in real-time and to time their electricity usage during hours with cheaper rates. Consumers can also protect themselves from price fluctuations by making fixed-term agreements. The increasingly smarter grid also supports the active role of customers in the new energy system. among other things, smart electricity networks enable customer-based small-scale electricity production and storage. In the new system, households can sell their surplus electricity to the markets. Offering environmentallybenign energy products also gives consumers an opportunity to impact their own carbon footprint. In fact, more and more private and business customers are requiring the electricity they purchase to have a guarantee of origin, i.e. certification of how the electricity is produced. The choices all electricity consumers make are of significance and the changing role of consumers and the growing opportunities for choices in the expanding markets are, in fact, an important step towards a carbon-free society. In the future, electricity will be purchased freely from any nordic country the consumer chooses. electricity will be used most when it is at the lowest cost and produced where it is environmentally and socially the most feasible. Fortum forAgendA 13
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