Fortum (FORTUM.HE) and Finland's National Emergency Supply Agency (NESA) have agreed to reserve a Fortum coal condensing power plant for severe disruptions and emergencies to guarantee electricity supply, the company said on Monday.
The agreement will run from March 1 of next year until the end of 2026, Fortum said, adding that the Meri-Pori power plant will operate on a commercial basis over the coming winter months to support security of supply in the Nordic power market.
"With Meri-Pori's production reserve, we can respond to the significant changes that have taken place around us regarding security and to prepare for large-scale hybrid threats towards our country," NESA chief Janne Kankanen said in a statement.
Kankanen said the production reserve would not be used to even out price peaks.
