The electricity market is changing at an unprecedented pace. Electricity consumption is increasing, driven particularly by the growth of the data industry. Industrial production and transport are also becoming increasingly electrified, while weather dependency in electricity generation is growing. At the same time, the importance of flexibility is increasing and revenue models are evolving.
The rapid development of artificial intelligence is also reshaping the operating environment and the way work is carried out. The updated strategy will enable EPV to capitalise on future growth opportunities and manage its key risks.
EPV’s previous strategy was created at the beginning of the decade and has been updated over the years. However, the operating environment in the energy sector has changed significantly over the past year, creating a need to renew the strategy.
“Energy markets are now changing faster than they have in decades. With our updated strategy, we are ensuring that EPV can seize growth opportunities and strengthen its position as a flexible, data-driven and reliable energy company. We are placing particular emphasis on flexibility solutions, energy management and market expertise, which are key competitive factors in the future energy system. At the same time, our objective is to create long-term shareholder value and strengthen EPV’s financial performance amid changes in the energy market,” says Rami Vuola, CEO of EPV Energy.
The updated strategy focuses on:
- Strong and diversified low-emission energy production
- Flexibility solutions, energy management, data and artificial intelligence as drivers of competitiveness
- Networks and regional development as enablers of growth in the clean transition
The cornerstones of EPV’s sustainable operations
EPV’s strategy is built on five cornerstones of sustainable operations: reliable and cost-effective energy, good governance and financial responsibility, a safe working environment, climate and biodiversity, and active societal engagement.
The objective is to provide EPV’s shareholders with competitive, reliable and sustainable energy. At the same time, we strengthen shareholder value, take care of the environment, develop the expertise of our personnel and ensure the reliability of energy infrastructure that is critical to society.
“The cornerstones of sustainable operations bring together the key factors that underpin EPV’s long-term success. Reliability of supply, responsibility, safety, good governance and skilled personnel form the foundation on which we can build a more sustainable, competitive and resilient energy system,” Vuola says.
Towards a sustainable energy system responsibly and reliably
As an energy producer, EPV has an important role in generating electricity with the lowest possible emissions and in contributing to society’s efforts to achieve its emission reduction targets.
Low-emission energy production supports the company’s long-term value creation and its position in the future energy system. EPV develops its business in a way that systematically takes climate and biodiversity impacts into account in investments, projects and operational activities.
“Over the past few years, we have made significant investments in renewable energy production and in the determined reduction of carbon dioxide emissions across the Group’s operations. Through its New Electricity Revolution strategy, EPV is committed to achieving climate targets and strengthening biodiversity, and this work will continue in the future,” Vuola states.
New opportunities and an important role in energy infrastructure
Electricity consumption is expected to increase significantly in the coming years. Growing demand will create opportunities for EPV to invest in new energy production projects and to act as a partner for various industrial operators.
At the same time, we will continue to innovate new production solutions and ensure that our electricity and heat infrastructure remains in good condition. This is reflected, among other things, in investments in flexibility solutions, energy storage and the development of reliability of supply.
EPV’s goal is to remain a key builder of the Finnish energy system in the future. The updated strategy provides a foundation for investments that strengthen security of supply, support the clean transition and meet growing electricity demand.
More information: Rami Vuola, CEO of EPV Energy Ltd, +358 10 5055 044