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 the company’s stakeholders, including shareholders, employees, subcontractors and society as a whole.
The effects of well-considered and successful operating activities, in turn, can be seen in the form of new jobs, investments and 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 strive for profit with our operations. EPV Energy’s most crucial task is to ensure that the electricity 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.
Diligent risk management
Our comprehensive risk management system has been improved. In 2019, EPV Energy began a far-reaching project to improve our risk management by adopting a new risk management system and redesigning our risk management processes to conform to the SFS-ISO 31000 standard.
Effective risk management
- reduces unwelcome surprises
- increases financial stability
- improves our ability to assess our competitiveness as a producer.
Financial responsibility includes the important task of recognising possible future financial risks in the operating environment. Comprehensive risk management is part of EPV’s management system.
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 model future investment needs and strive to fund them in such a way that our reliability and equity ratio remain desirable.
DIRECT FINANCIAL IMPACTS in 2019
- Purchases: 289.4 MEUR
- Pay and other compensation to employees: 7.7 MEUR
- Taxes and social costs: 2.4 MEUR
- Real estate taxes in their entirety: 1.6 MEUR
- Net financing costs to the creditor: 5.2 MEUR
- Investments: 41.1 MEUR
- Loan repayments to investors (net): 16.7 MEUR