The shareholder of Elenia Finance Oyj, Elenia Oy, has informed Elenia Finance Oyj that it has commenced a strategic review of its interests in Elenia Lämpö Oy and its associated subsidiary. There is no certainty as to the decisions which may ultimately be made on conclusion of this strategic review.
Terms and Conditions of Access to the Website
BEFORE ENTERING THIS WEBSITE, PLEASE READ CAREFULLY THE FOLLOWING IMPORTANT TERMS AND CONDITIONS THAT GOVERN YOUR ACCESS TO, AND USE OF, THIS WEBSITE, AND ACKNOWLEDGE YOUR AGREEMENT TO THEM. IF YOU AGREE TO THE TERMS, CLICK 'I AGREE' AT THE END OF THIS DOCUMENT TO ENTER THIS WEBSITE. IF YOU CLICK 'I DO NOT AGREE' YOU WILL NOT BE ABLE TO ENTER THIS WEBSITE.
Access and use of this website (the Website) is conditional upon agreement to and compliance with these terms and conditions of access to the website (the Terms and Conditions).
You (the Client) acknowledge and agree to the Terms and Conditions and agree not to undertake any act or omission that would constitute a breach of these Terms and Conditions.
Access to and use of the Website
The materials on the Website are directed, in the UK and in other EEA countries, to persons regarded as market counterparties and intermediate customers and not to private customers (as defined by the rules of the U.K. Financial Conduct Authority), who should not rely on the Website. Moreover, any investment or services to which the Website may relate will not be made available to such private customers. The materials on the Website are intended for use by authorised users only and may not be published, copied or distributed to any other person.
Nothing in the Website is, or is to be construed as, an offer of or invitation to subscribe for, underwrite or purchase securities in any jurisdictions in which such offer is or may be prohibited, restricted or subject to any requirement for filing, authorisation, licence or consent.
The Client agrees that it has not made and will not make any offer of securities referred to on the Website (the Securities) other than in accordance with applicable law and regulation.
Nothing in the Website constitutes an offer of securities for sale in the United States. The Securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act of 1933, as amended (the Securities Act). It is not intended that the Securities will be registered under the Securities Act or any U.S. state securities laws.
The Client will use the Website solely for its own internal use in accordance with these Terms and Conditions.
The Client will not engage in any activities related to the Website that are contrary to applicable law or regulation or the terms of any agreements between the Client and the Elenia Group.
The Website may contain other proprietary notices and copyright information, the terms of which must be observed and followed.
Acknowledgements and Disclaimers
The Client acknowledges and agrees to the following:
No duty to update or correct materials. The materials included on the Website are historical in nature and only current as of the date of the materials. Neither the Elenia Group nor any other party has any duty to maintain or update any material on the Website. Historic performance information with regard to any security is no indication of its future performance.
Changes to materials. The Elenia Group may remove or make changes to the materials available on the Website at any time.
Third party materials. Information on the Website may be sourced from third parties (the Third Party Materials), including (without limitation) offering circulars, prospectuses, listing particulars, pricing supplements, reports, agreements, summaries, models, commentary and other materials, has been obtained from sources believed to be reliable, but the Elenia Group does not warrant its completeness or accuracy. The Elenia Group has no obligations in respect of Third Party Materials (including as to verifying or correcting Third Party Materials or publishing materials relating to Third Party Materials). Posting Third Party Materials on the Website does not imply any endorsement, adoption of or responsibility by the Elenia Group for the opinions, ideas, products, information or services offered therein, or any representation regarding the content of any Third Party Materials.
Offering documents and research reports. Any final offering memoranda or other offering materials (each, an Offering Document) or research reports posted on the Website are Third Party Materials unless produced by the Elenia Group. Third Party Materials are provided solely for the Client's convenience to generally describe the terms of the transaction described therein.
The Client should not assume that the information contained or incorporated by reference in any Offering Document or research report is accurate as of any date other than the respective date set forth therein or the date of the information incorporated therein.
Offering Documents, research reports and other information contained in the Website may not be distributed (whether in whole or in part) to or used by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation.
Disclaimer of Advice. Except as otherwise expressly stated, the Website does not purport to provide any financial, investment, tax, accounting or legal advice or recommendation.
Click Through. Any acknowledgment, agreement or other type of click through button on the Website that is selected to evidence agreement or an acknowledgement shall have the same force and validity as a paper copy of an agreement that has been manually signed and delivered.
Discontinuance and disruption of service. The Elenia Group or its suppliers may discontinue the Website at any time.
Rule 144A. The Client is not a 'U.S. person' (as that term is defined in Regulation S under the Securities Act) and is not in the United States (as that term is defined in Regulation S under the Securities Act).
Unauthorised use of the Website including but not limited to unauthorised entry into such entities' systems, or misuse of any information posted to the Website, is strictly prohibited.
Limitation of Liability
The Elenia Group and third party data providers are not responsible for any errors in or omissions from the information contained in or accessed through the Website (including all information, tools and materials contained on the Website).
The Website may contain statements that constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by the use of forward-looking terminology, such as the words 'believes', 'expects', 'may', 'intends', 'should' or 'anticipates', or the negative or other variations of those terms. These statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results and performance of the Securities, the Elenia Group and/or any of its subsidiaries or affiliates to differ materially from any future results or performance expressed or implied in the forward-looking statements. These risks, uncertainties and other factors include, among others: general economic and business conditions in the United Kingdom; currency exchange and interest rate fluctuations; government, statutory, regulatory or administrative initiatives affecting the Elenia Group and/or any of its subsidiaries or affiliates; changes in business strategy or customer relationships; and other factors that may be referred to in the Website.
Except as may be otherwise expressly provided by written agreement between the Elenia Group and the user, the Elenia Group will have no tort, contract or any other liability to the Client or any third party arising in connection with the use of the Website, or reliance on any information or services provided in this Website.
The Elenia Group will under no circumstances be liable to the Client or any third party, regardless of the form of action, for any lost profits or lost opportunity, or any indirect, special, consequential, incidental or punitive damages whatsoever, even if the Elenia Group has been advised of the possibility of such loss or damages.
Nothing in this clause shall limit or exclude liability of the Elenia Group:
(i) for personal injury arising from negligence;
(ii) for fraud, gross negligence or wilful default; or
(iii) for damages that may not be limited or excluded under applicable law and regulation.
The parties agree that the limitations and exclusions set out in this clause are reasonable having regard to all the relevant circumstances and the levels of risk associated with each party's obligations under these Terms and Conditions.
These Terms and Conditions and any non contractual obligations arising out of or in conjunction with it, will be governed by, and construed in accordance with, the laws of Finland.
The Finnish courts will have exclusive jurisdiction to settle any disputes which may arise in connection with these Terms and Conditions.
Elenia’s continued investments into weather-proof network reduce customers´ outages and storm related costs significantly. The increased underground cabling rate was reflected in reduced number of outages caused by Storm Aapeli. Without increased underground cabling, we estimate that the number of customers affected could have been triple. Consequently also the costs have been significantly lower.
Elenia continues the long-term investment programme and this year company´s planned network investments exceed EUR 145 million. The investments are made in all operational areas of Elenia including Häme, Pirkanmaa, Central Finland as well as Southern and Northern Ostrobothnia. Last year company’s investments in security of supply exceeded EUR 140 million.
Elenia Lämpö Oy, the heating company of the Elenia group, operates the Vanaja power plant in Hämeenlinna. The Regional State Administrative Agency (AVI) issued an environmental permit on 16 November 2015 where it considers that the K4 boiler at the Vanaja plant does not fall under the relevant exception for emission limits of the so-called ‘old existing’ district heating plants under the Finnish Decree on environmental requirements for large energy generation units (936/2014) which entered into force on 20 November 2014 and which is applied to existing combustion plants as from 1 January 2016.
Elenia has agreed a loan of EUR 150 million with the European Investment Bank (EIB). Elenia’s long-term investment plan emphasises the importance of building underground electricity network and replacing overhead lines to secure uninterrupted availability of electricity.
Elenia Lämpö has made the decision to invest in the renewal of the Vanaja power plant in Hämeenlinna and an important part of the investment is the purchase of a new biofuel-fired boiler. The goal is for the new boiler to be operational in 2020. As a result, the share of renewable fuels in Elenia Lämpö’s production of district heating in Hämeenlinna will be clearly over 80%. The boiler will be delivered by Valmet Technologies, Inc.
Last summer, Elenia participated in the Global Real Estate Sustainability Benchmark (GRESB) assessment, or GRESB Infrastructure Assessment, for the first time. Elenia scored the full five stars in the assessment. All of Elenia’s operations were included in the assessment.
D.Sc. (Tech.) Jouni Pylvänäinen has been appointed Head of Strategic Development and member of the management team of Elenia Oy as of 1 September 2018.
The electricity network company Elenia’s distribution price will increase 6.1 % on average from the beginning of August. The CEO of Elenia Tapani Liuhala explains the price increase with the modernization of electricity distribution to meet current and future requirements.
Fortum and Elenia have signed a letter of intent for a completely new operating model in the energy sector. The companies are together testing the suitability of electricity storage in maintaining electricity system balance and in reducing power outages.