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Fingrid Oyj (BR96)

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Friday 02 October, 2015

Fingrid Oyj

Fingrid Oyj's result considerably better than expected


Fingrid Oyj / Miscellaneous
Fingrid Oyj's result considerably better than expected

02-Oct-2015 / 12:15 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Helsinki, Finland, 2015-10-02 12:15 CEST (GLOBE NEWSWIRE) -- Stock Exchange Release 2.10.2015 at 13.15 EET

Contrary to earlier projections, Fingrid Oyj's result for the 2015 financial year, excluding taxes and changes in the fair value of derivatives, is expected to improve considerably from 2014. The exceptional water and production situation in the Nordic countries has pushed wholesale electricity market prices to a very low level. With the physical transmission capacity of electricity between Finland and Sweden being insufficient to meet Finland's demand, the regional price differences between the two countries have grown exceptionally large and thus transmission system operators (TSOs) have received a significant amount of congestion income.

Congestion income, which is allocated through the market mechanism, was especially high in July and August, totalling EUR 32.3 million. Congestion income in January-September totalled EUR 67.7 million, which is EUR 30.1 million higher than in the corresponding period last year. It is projected to be record-high for the full year.

It is likely that the company will close the 2015 regulatory period with surplus revenue. This surplus will be taken into account in the 2016 grid fees.

Further information:

Jukka Ruusunen, President & CEO, tel. +358 30 395 5140 or +358 40 593 8428 Jan Montell, Chief Financial Officer, tel. +358 30 395 5213 or +358 40 592 4419 News Source: NASDAQ OMX






02-Oct-2015 The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap.de/ukreg


Language: English
Company: Fingrid Oyj
Finland
ISIN: XS0113638653
Category Code: MSC
TIDM: BR96
Sequence Number: 2855
Time of Receipt: 02-Oct-2015 / 12:15 CET/CEST
End of Announcement EQS News Service

399653  02-Oct-2015 

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