Gasum Annual Report 2010

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BUSINESS ENERGY SERVICES Gasum offers natural gas-based energy solutions for homes, industry, energy companies, constructors and restaurants. Energy service sales were up 11% in 2010. Heat service sales developed particularly well, with volume up 58% on the year before. Natural gas sales in Gasum’s local distribution networks were up 17% and totalled 577.5GWh. Energy Services is one of the strategic focal areas of Gasum’s business and plays an important role in the diversiﬁcation of the business and clientele of the entire Group. Gasum’s energy services company Gasum Energiapalvelut supplies a comprehensive range of equipment and services based on natural gas. Gasum is Finland’s leading provider of natural gas-based energy solutions, such as heat and gas appliances, installations, maintenance and servicing. Gasum Energiapalvelut also offers construction services, including natural gas distribution pipelines for houses, residential areas, enterprises and factories. Gasum also offers restaurants and private customers gas cookers and other kitchen appliances. Gasum Energiapalvelut also maintains and develops the Helsinki local distribution network, which is the largest in the country in terms of population served. Gasum also has distribution networks in Kotka, Porvoo, Lohja, Vantaa, Kirkkonummi, Siuntio, Riihimäki and Iitti. MARKET REVIEW In 2010 enterprises were recovering from the recession and began to invest in production facilities again. Many of them wished to strengthen their proﬁle as environmentally friendly forerunners and reduce greenhouse gas emissions from their operations. Households paid more attention to their heating solutions. Important factors affecting their choices were price and a desire to switch to a cleaner and more energy-efﬁcient form of heat generation. The majority of natural gas used for heating in Finland is utilised as district heat. Around 4,000 houses and more than 1,000 housing companies have been connected to the natural gas distribution network and use natural gas directly in heating. Gasum has around 1,300 houses and housing companies as customers. Gasum employed an extensive direct marketing campaign and local thematic events to market heating solutions. The year saw Gasum’s market launch of the Oertli Oecosun property heating system that combines the beneﬁts of natural gas and solar heating. The energy efﬁciency and convenient placing of natural gas-fuelled condensing boilers was also emphasised in Gasum’s communications. Active marketing of natural gas took place particularly in Nummela, Vihti, an area that will gain access to the natural gas network once the new Mäntsälä–Siuntio pipeline is completed in autumn 2011. Corporate customers were interested in natural gas-based energy solutions. They enabled reductions in carbon dioxide emissions and increased energy efﬁciency. Gasum Energiapalvelut had two steam boiler plants and ﬁve hot water boiler plants constructed, and heat and steam energy supply agreements were signed with customers including Oy Karl Fazer Ab, Primulan Herkkutehdas Oy and Halton Oy. Gasum also expanded the supply of gas-fuelled kitchen appliances. September saw the Finnish market launch of British AGA gas cookers. AGA is a traditional make of gas cookers that is famous in the UK and continental Europe in particular. Gasum provides gas solutions through its own organisation and its partner network. Gasum Pro training events, where partners are introduced to the range of appliances, are organised in order to build the network. Gas installation permits are issued by a government agency. DEVELOPMENT OUTLOOKS Gasum foresees good development prospects for natural gas-based energy solutions. The 2010 energy tax decision will not affect the market competitiveness of service, appliance or solution sales. Net sales expansion calls for investment in the provision of solutions that are energy-efﬁcient and based on renewable energies. Sales of natural gas by Gasum Paikallisjakelu Oy to distribution customers totalled 577.5 GWh or 1.3% of the Gasum Group’s total natural gas sales. Natural gas sales to distribution customers by user group 2010 GAASIENERGIA Gaasienergia AS is a Gasum Group company operating in Estonia and selling natural gas to small and medium-sized enterprises and households. Gaasinenergia owns 60 km of distribution pipeline in and around Tallinn. The company’s operating environment has been inﬂuenced strongly by a regulation that entered into force in 2007 and called for the unbundling of gas distribution and energy sales. In 2010 Gaasienergia used its distribution network to supply 10.5 million m3 of natural gas, while its sales amounted to 3.3 million m3. The company managed to balance its ﬁnances during the year and for the ﬁrst time was proﬁtable (€169,000) in all segments. Industry Service, business and public sector Regional and district heat Transport Terraced houses and blocks of ﬂats House heating Gas cooker users Gardens 35 % 21 % 17 % 10 % 9% 5% 2% 1% 14 ANNUAL REPORT 2010

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