EPV Energy Ltd (EPV) is a Finnish energy company that generates and acquires electricity and heat for its shareholders, i.e. Finnish energy companies, at a production cost price. This is known as the Mankala principle and it enables shareholders to engage in extensive energy projects, while ensuring low production costs.
EPV Energy generates and acquires approximately 5 per cent of all the electricity consumed in Finland. In 2016, the company acquired a total of 4.4 TWh of electricity and 1.3 TWh of heat.
Towards emission-free energy generation
The company is a leader in emission-free energy generation, for example in utilising wind power and domestic biofuel. So far in the 2010s, the Group has reduced its carbon dioxide emissions by up to a third. Following EPV’s new strategy, we will also continue our purposeful work towards emission-free energy generation in the future.
More than 60 years in business
Founded in 1952, EPV Energy was first known as Etelä-Pohjanmaan Voima. The company’s roots are in Ostrobothnia where the region’s electric power plants opted to join forces as the demand for electricity grew.
Over the decades, EPV has expanded its operations to cover the whole country and also into Sweden and Norway. Nevertheless, the original business idea of acquiring cost-effective energy for shareholders still holds.
EPV Energy’s Group structure
The EPV Energy Group has subsidiaries and partnership companies in whose governance and supervision EPV actively participates. The Group is divided into four business areas.
| Assets MEUR (balance, assets) | 2012 | 2013 | 2014 | 2015 | 2016 |
|---|---|---|---|---|---|
| Non-current assets | 303.81 | 348.38 | 399.60 | 497.77 | 531.73 |
| Inventories | 1.03 | 3.18 | 4.82 | 6.19 | 5.56 |
| Non-current receivables | 39.07 | 61.09 | 65.08 | 63.04 | 35.26 |
| Current receivables | 39.88 | 39.85 | 44.23 | 103.88 | 76.04 |
| Receivables, marketable securities, cash and cash equivalents | 34.93 | 14.24 | 35.80 | 40.59 | 71.24 |
| Altogether | 418.72 | 466.74 | 549.53 | 711.47 | 719.83 |
| Liabilities MEUR (balance, liabilities) | 2012 | 2013 | 2014 | 2015 | 2016 |
|---|---|---|---|---|---|
| Equity | 216.96 | 253.92 | 284.74 | 359.72 | 346.11 |
| Minority interest | 5.44 | 6.82 | 7.86 | 7.54 | 7.61 |
| Non-current liabilities | 138.84 | 164.75 | 210.47 | 280.75 | 294.37 |
| Current liabilities | 57.47 | 41.24 | 46.46 | 63.46 | 71.74 |
| Altogether | 418.72 | 466.74 | 549.53 | 711.47 | 719.83 |
