A common denominator of the shareholders of Voimaosakeyhtiö SF is their need for emission-free, price-stable, and reliable electricity.
The companies involved in the Fennovoima project consume a large share of all the electricity consumed in Finland. Voimaosakeyhtiö SF was established as a holding company of these companies. Together with RAOS Voima, it owns 100% of Fennovoima’s shares. The shareholders will receive a share corresponding to their share of ownership of the electricity produced by the Hanhikivi 1 nuclear power plant.
Most of the shareholders are local energy companies. They are key actors in their own economic areas, where they serve local businesses and households.
Most of the energy companies sell more energy than they are able to produce, and they must buy the rest from the electricity market. The electricity produced by Hanhikivi 1 will boost the electricity procurement of these companies. It will also offer them stability in the highly competitive electricity market.
As limited liability companies, the purpose of these companies is to produce profit for their shareholders. Many of the local energy companies are owned by the municipality, which means that the partnership will also support the economy of the municipalities. Through the energy companies, the majority of Finns will benefit from the electricity produced by Hanhikivi 1. Hanhikivi 1 will produce around 10% of Finland’s electricity demand.
The industrial companies that have joined the Fennovoima project need large volumes of electricity for their production operations. For them, predictability is the key: it is easier to plan future investments and production when the availability and price of energy will remain stable for several years to come. The price and availability of electricity play a major role in the total costs of industrial products.