Fortum's power sales declined by 4% in 2014, from €2.1bn to €2bn, due to an 11% decrease in Nordic power prices (from €46.4/MWh in 2013 to €41.4/MWh) in 2014. The group sold 45 TWh on the Nord Pool (in Nordic countries) and an additional 4 TWh in other countries. It sold 13.8 TWh of electricity to end-consumers in 2014 (+1%). Fortum distributed 17.6 TWh of electricity in Nordic countries in 2014, a 33% drop due to warmer weather and to the divestment of the Finnish and Norwegian distribution businesses: distributed volumes in Sweden dipped by 3% to 13.7 TWh, while they fell by 71% in Finland (2.8 TWh) and by 56% in Norway (1.1 TWh). In Russia, the group sold 26.5 TWh (+3.5%) of electricity and 26 TWh of heat in 2014 (+7.9%).
Fortum generated nearly 47 TWh in the Nordic countries in 2014, an 8% increase on 2013 (44 TWh), thanks to a 24% increase in hydro and wind power generation (22 TWh) due to normalised hydro inflow and reservoir levels; nuclear generation remained stable at 24 TWh, while thermal power generation halved (0.9 TWh). The group commissioned the third unit of the Nyagan power plant (4118 MW) during the year.
In 2014, Fortum invested €774m, including €340m in Russia, €225m in Sweden and €1663m in Finland.