Please note that the figures are written according to Finnish standards, which means that decimals are separated through commas instead of periods.

NOTES TO THE BALANCE SHEET (€1,000)    
GroupParent company
2017201620172016
9. INTANGIBLE ASSETS
Intangible rights
Acquisition cost 1 January1 4451 2541 2451 240
Increase 11205115
Decrease-50-50
Transfer between categories0-1400
Acquisition cost 31 December1 4511 4451 2511 245
Accumulated depreciation
and impairment charges 1 January-242-180-240-180
Depreciation of the financial year -80-62-60-60
Book value 31 December1 1291 2049511 005
Goodwill
Acquisition cost 1 January6 0006 00000
Acquisition cost 31 December6 0006 00000
Accumulated depreciation
and impairment charges 1 January-3 200-2 80000
Depreciation of the financial year -400-40000
Book value 31 December2 4002 80000
Emission reductions
Acquisition cost 1 January5 2415 7175 2415 717
Increase 8441 2258441 225
Decrease -1 937-1 702-1 937-1 702
Acquisition cost 31 December4 1475 2414 1475 241
Book value 31 December4 1475 2414 1475 241
Other capitalised long-term expenses
Acquisition cost 1 January17 90713 4074 4743 527
Increase 6524 486 1)316947
Transfer between categories01400
Acquisition cost 31 December18 55917 9074 7904 474
Accumulated depreciation
and impairment charges 1 January-5 968-4 884-3 125-2 729
Depreciation of the financial year -1 227-1 084-434-396
Book value 31 December11 36411 9391 2321 349
Intangible assets in total
Acquisition cost 1 January30 59326 37810 96010 485
Increase 1 5075 9161 1712 177
Decrease-1 942-1 702-1 942-1 702
Acquisition cost 31 December30 15830 59310 18910 960
Accumulated depreciation
and impairment charges 1 January-9 410-7 864-3 365-2 909
Depreciation of the financial year -1 707-1 546-494-456
Book value 31 December19 04121 1826 3307 595
10. TANGIBLE ASSETS
Land areas
Acquisition cost 1 January6 1165 2742 5292 496
Increase 311617033
Decrease -22-300
Transfer between categories022800
Acquisition cost 31 December6 4056 1162 5292 529
Book value 31 December6 4056 1162 5292 529
Revaluation included in the
acquisition cost of land areas
Revaluation 1 January1 6821 6821 6821 682
Revaluation 31 December1 6821 6821 6821 682
The revaluation is based on the presumable transfer price.
Deferred tax share of the revaluation336336336336
Peat resources
Acquisition cost 1 January1 09797700
Increase 5412100
Acquisition cost 31 December1 1511 09700
Depreciation of the financial year -43-2700
Book value 31 December1 0801 07000
Buildings
Acquisition cost 1 January48 46935 1565 9145 454
Increase 862 1)13 405 1)163553
Decrease -353-93-353-93
Transfer between categories18201820
Acquisition cost 31 December49 16048 4695 9065 914
Accumulated depreciation
and impairment charges 1 January-9 423-7 901-4 198-4 156
Accumulated depreciation
from deduction 3539335393
Depreciation of the financial year -1 904-1 614-145-134
Book value 31 December38 18639 0461 9161 716
Machinery and equipment
Acquisition cost 1 January249 764190 60017 68514 313
Increase 7 01859 743 1)3 3913 372
Decrease -47-579-470
Transfer between categories-1820-1820
Acquisition cost 31 December256 552249 76420 84617 685
Accumulated depreciation
and impairment charges 1 January-51 167-40 701-9 004-8 605
Accumulated depreciation
from deduction 4727470
Depreciation of the financial year -12 322-10 494-592-398
Book value 31 December193 110198 59711 2988 681
Book value share of the
machinery and equipment used for production194 458197 81511 0768 409
1) Increases mainly wind power investments
Transmission network
Acquisition cost 1 January54 87045 80151 53742 467
Increase 17 26610 4642 21410 464
Decrease 0-1 3940-1 394
Acquisition cost 31 December72 13654 87053 75151 537
Accumulated depreciation
and impairment charges 1 January-17 095-15 139-16 029-14 355
Accumulated depreciation
from deduction 032032
Depreciation of the financial year -2 326-1 987-1 969-1 706
Book value 31 December52 71637 77635 75335 508
Other tangible assets
Acquisition cost 1 January1 0811 08100
Acquisition cost 31 December1 0811 08100
Accumulated depreciation
and impairment charges 1 January-574-50100
Depreciation of the financial year -72-7200
Book value 31 December43550700
Pending peat acquisitions
Acquisition cost 1 January4 9824 53400
Increase 75998900
Decrease -262-31300
Transfer between categories0-22800
Acquisition cost 31 December5 4794 98200
Book value 31 December5 4794 98200
Advance payments and acquisitions in progress
Acquisition cost 1 January49 44376 5482041 028
Increase 92 30630 4054254
Decrease -3 224-57 510-200-878
Acquisition cost 31 December138 52649 44346204
Book value 31 December138 52649 44346204
Tangible assets in total
Acquisition cost 1 January415 823359 97077 86965 758
Increase 118 575115 7445 80914 476
Decrease -3 908-59 891-601-2 365
Acquisition cost 31 December530 490415 82383 07877 869
Accumulated depreciation
and impairment charges 1 January-78 286-64 242-29 231-27 117
Accumulated depreciation
from deduction 401152401124
Depreciation of the financial year -16 668-14 196-2 706-2 239
Book value 31 December
435 937
337 537
51 542
48 638
11. CAPITALISED INTEREST COSTS
Capitalised during the financial year1 0681 37400
Including capital interest costs
Advance payments and acquisitions in progress2 02395600
Other long-term expenses707300
Buildings and construction32233600
Machinery and equipment2 3222 46400
4 7373 82900
12. INVESTMENTS
Interest in group companies
Acquisition cost 1 January264264123 66890 131
Increase 0017 11533 537
Acquisition cost 31 December264264140 783123 668
Book value 31 December264264140 783123 668
Interest in associated companies
Acquisition cost 1 January166 225171 252155 737159 855
Increase 303 532303 443
Decrease -6-8 5600-7 561
Acquisition cost 31 December166 249166 225155 767155 737
Book value 31 December166 249166 225155 767155 737
Other holdings and interests
Acquisition cost 1 January6 52312 0076 52312 007
Decrease-1 153-5 484-1 153-5 484
Acquisition cost 31 December5 3706 5235 3706 523
Book value 31 December5 3706 5235 3706 523
Investments in total
Acquisition cost 1 January173 012183 522285 928261 992
Increase 301 71417 14535 162
Decrease -1 158-12 225-1 153-11 227
Acquisition cost 31 December171 883173 012301 919285 928
Book value 31 December171 883173 012301 919285 928
NOTES TO THE BALANCE SHEET (€1,000)
INVESTMENTS
Company nameDomicileGroup interest %Group voting share %Parent company interest %Holdings of parent company
Pcs.Book value
Holdings in group companies
EPV Alueverkko OyVaasa100,0100,0100,01503
EPV Bioturve OyVaasa100,0100,0100,01 0006 150
EPV Tase OyVaasa100,0100,0100,0500500
EPV Tuulivoima Oy (A)Vaasa100,0100,0100,01 0004 750
EPV Tuulivoima Oy (B)Vaasa100,0100,0100,05 20025 933
EPV Tuulivoima Oy (C)Vaasa100,0100,0100,04 70023 500
EPV Tuulivoima Oy (D) Vaasa100,0100,0100,08 00040 000
Tornion Voima OyTornio100,0100,0100,07 50015 008
Vaskiluodon Teollisuuskiinteistöt OyVaasa100,0100,0100,04 000264
EPV Teollisuusverkot Oy (A)Vaasa90,090,090,0903
EPV Tuotantoverkot OyHelsinki100,0100,0100,016 00017 115
Rajakiiri Oy (A)Tornio60,260,260,29 4313 313
Rajakiiri Oy (B)Tornio75,275,275,25 7624 246
Holdings in associated companies
EPM Metsä OyVaasa50,050,050,0200 000174
Rapid Power OyVaasa50,050,050,05 00026 804
Suomen Merituuli OyHelsinki50,050,050,01 0001 000
Vaskiluodon Voima OyVaasa50,050,050,0300505
Raahen Voima OyRaahe25,025,025,0675 6258 376
Voimapiha Oy (A)Helsinki16,732,716,7200 00020 000
Woodtracker OyEspoo30,030,030,030 00030
Pohjolan Voima Oyj (A)692 549
Pohjolan Voima Oyj (B)230 558
Pohjolan Voima Oy (B2)297 418
Pohjolan Voima Oyj (C2)11 624
Pohjolan Voima Oyj (C)318 041
Pohjolan Voima Oyj (M)9 355
Pohjolan Voima Oyj (V)
224 735
5,51 784 28038 087
Teollisuuden Voima Oyj (A)44 562 213
Teollisuuden Voima Oyj (B)44 562 203
Teollisuuden Voima Oyj (C)2 246 704
6,691 371 12058 974
Manga LNG Oy5,01 389 8851 818
Other shares and holdings owned by the parent company
Suomen Energiavarat Oy (A)Vaasa100,04 4003
Suomen Energiavarat Oy (B)Vaasa3,91 1764 998
Innopower Oy (A,C)9,812 580127
Powest Oy (E)1,013 20689
Others153
301 919
NOTES TO THE BALANCE SHEET (€1,000)    
GroupParent company
2017201620172016
13. INVENTORIES
Power plant fuels5 8255 56300
14. NON-CURRENT RECEIVABLES
Loan receivables38 48431 41138 92231 411
Unpaid equity capital 1)03 27703 277
Other long-term receivables307567250328
38 79135 25539 17235 015
Receivables from group companies
Loan receivables--8580
Receivables from associated companies
Loan receivables37 96331 41037 96331 410
15. CURRENT RECEIVABLES
Trade receivables31 34229 26811 99813 007
Loan receivables003 8236 489
Unpaid equity capital 1)24 76727 84624 76727 846
Prepayments and accrued income *)10 94710 7842 8002 807
Other receivables8 0198 1381802 178
75 07576 03643 56852 327
Share issue receivables concerning wind power investments and the OL3 project.
Receivables from group companies
Trade receivables--11
Loan receivables--3 8236 489
Prepayments and accrued income--00
Other receivables--11747
--3 9416 537
Receivables from associated companies
Trade receivables4 4014 3433231
Prepayments and accrued income380380
Other receivables47449434238
4 9134 837104269
*) Constituents of prepayments and accrued income
Accrued electricity purchases2 6322 7262 6322 726
Accrued electricity and heat sales52482100
Accrued energy support7 0336 29900
Accured interest income380390
Others53993813081
10 94710 7842 8002 807
16. SHAREHOLDERS' EQUITY
Restricted shareholders' equity
Equity capital 1 January12 96112 45912 96112 459
Increase in equity capital508618508618
Returned to shareholders0-1160-116
Equity capital 31 December13 46912 96113 46912 961
Share issue 1 January9291 5899291 589
Transfer to equity capital-508-618-508-618
Expiration of underwriting0-420-42
Share issue 31 December421929421929
Share premium reserve 1 January51 93357 85051 93357 850
Returned to shareholders0-5 9170-5 917
Share premium reserve 31 December.51 93351 93351 93351 933
Revaluation reserve 1 January1 2451 2451 2451 245
Revaluation reserve 31 December1 2451 2451 2451 245
Statutory reserve 1 January5 2735 2735 2735 273
Statutory reserve 31 December5 2735 2735 2735 273
Total restricted shareholders' equity72 34072 34072 34072 340
Unrestricted shareholders' equity
Invested unrestricted equity reserve 1 January197 892207 032197 892207 032
Returned to shareholders0-6 6820-6 682
Expiration of underwriting0-2 4580-2 458
Invested unrestricted equity reserve 31 December197 892197 892197 892197 892
Retained result 1 January75 87574 27215 82719 435
Retained result 31 December75 87574 27215 82719 435
Result of the financial year10 3041 603807-3 608
Total unrestricted shareholders' equity284 070273 767214 526213 719
TOTAL SHAREHOLDERS' EQUITY356 410346 107286 866286 059
Depreciation difference
Depreciation difference share entered under equity capital60 60551 061--
Calculation of distributable equity 31 December
Retained result--15 82719 435
Result of the financial year--807-3 608
Invested unrestricted equity reserve--197 892197 892
--214 526213 719
NOTES TO THE BALANCE SHEET (€1,000)  
Equity capital according to series of sharespcs1 000 €
A1-series *)
The shares in the A and B series of the company Teollisuuden Voima Oyj or other shares replacing these entitle the holder to electricity generated by means of nuclear power at the Olkiluoto 1, Olkiluoto 2 and Olkiluoto 3 nuclear power plant units3 565 3656 061
A2-series
The shares in the B series of the company Pohjolan Voima Oy or other shares replacing these entitle the holder to electricity generated by means of nuclear power at the Olkiluoto 1 and Olkiluoto 2 nuclear power plant units of Teollisuuden Voima Oyj250 000425
A3-series *)
The shares in the B2 series of the company Pohjolan Voima Oy or other shares replacing these entitle the holder to electricity generated by means of nuclear power at the Olkiluoto 3 nuclear power plant unit of Teollisuuden Voima Oyj600 4861 021
B-series
The shares in the C series of the company Teollisuuden Voima Oyj and the shares in the C2 series of the company Pohjolan Voima Oy or other shares replacing these entitle the holder to electricity generated mainly at the Meri-Pori coal power plant64 653110
C-series
The shares in the M series of the company Pohjolan Voima Oy or other shares replacing these entitle the holder to electricity generated by Mussalon Voima Oy 20 51735
D1-series
The shares in the company Vaskiluodon Voima Oy or other shares replacing these entitle the holder to electricity generated at the thermal power plant units in Vaasa and Seinäjoki562 500956
D2-series
The shares in the V series of the company Pohjolan Voima Oy or other shares replacing these entitle the holder to electricity generated at the power plants of Vaskiluodon Voima Oy in Vaasa and Seinäjoki113 091192
E1-series
The shares in the A series of the company Pohjolan Voima Oy or other shares replacing these entitle the holder to electricity generated in Finland by means of hydropower543 375924
E2-series
The shares entitle the holder to the electricity supplied by the partnership company Rapid Power Oy, generated by means of hydropower in Norway and transmitted to Finland265 440451
E3-series
The shares in the A series of the company Voimapiha Oy or other shares replacing these entitle the holder to electricity generated mainly by means of hydropower in Sweden110 000187
F-series
The shares in the C series of the company Pohjolan Voima Oy or other shares replacing these entitle the holder to electricity generated at the power plants in Tahkoluoto and Kristinestad197 964337
G-series
-The shares entitle the holder to profits not included in the other series, and the liability to pay for the costs of these302 400514
M-series
The shares in the M series of the company Manga LNG Oy or other shares replacing these entitle the holder to generated liquefied natural gas (LNG)6 00010
P1-series
The shares entitle the holder to the emission reduction rights acquired from a third party and obligate the holder to compensate for the fixed costs of the company concerned arising from the acquisition of the rights in relation to the holder's shares in the P1 series, as well as for the variable costs in relation to the received rights74 000126
P2-series
The shares entitle the holder to the emission reduction rights acquired from a third party, based on acquisition decisions made in 2011 or at a later date, and obligate the holder to compensate for the fixed costs of the company concerned arising from the acquisition of the rights in relation to the holder's shares in the P2 series, as well as for the variable costs in relation to the received rights43 80074
T1-series
The shares in the company Tornion Voima Oy or other shares replacing these entitle the holder to electricity generated by means of thermal power at the power plant in Tornio120 000204
T2-series
The shares in the company Raahen Voima Oy or other shares replacing these entitle the holder to electricity generated by means of CHP at the power plant in Raahe49 53184
W1-series
The shares in the A and C series of the company Innopower Oy and the shares in Rajakiiri Oy or other shares replacing these entitle the holder to electricity generated by means of wind power86 971148
W2-series
The shares in the company EPV Tuulivoima Oy or other shares replacing these entitle the holder to electricity generated by means of wind power47 45681
W3-series
The shares in the company Suomen Merituuli Oy or other shares replacing these entitle the holder to electricity generated by means of wind power4 9878
W4-series
The shares in the B series of the company EPV Tuulivoima Oy or other shares replacing these entitle the holder to electricity generated by means of wind power259 325441
W5-series
The shares in the C series of the company EPV Tuulivoima Oy or other shares replacing these entitle the holder to electricity generated by means of wind power235 000400
W6-series *)
The shares in the D series of the company EPV Tuulivoima Oy or other shares replacing these entitle the holder to electricity generated by means of wind power400 000680
7 922 86113 469
The shareholders in each of the series are responsible for the fixed costs of the series in relation to their holdings and for the variable costs in relation to the amount of energy supplied
NOTES TO THE BALANCE SHEET (€1,000)     
*) Unregistered share issues
Date of General Shareholders' MeetingSeries of sharesDirected share issue
Number pcsTotal subsciption price €1,000Share capital €1,000Invested unrestricted equity reserve €1,000
Unpaid
31.5.2013A165 5336 5531116 442
18.12.2015W6182 14018 21431017 904
247 67324 76742124 346
NOTES TO THE BALANCE SHEET (€1,000)    
GroupParent company
2017201620172016
17. ACCUMULATED APPROPRIATIONS
Depreciation difference of
deferred tax liabilities16 98213 6863 9223 935
18. NON-CURRENT LIABILITIES
Bank loans235 671211 38650 76729 500
Other non-current liabilities77 52669 29570 45567 455
313 197280 681121 22396 955
Liabilities to group companies
Other non-current liabilities--250150
Liabilities to associated companies
Other non-current liabilities72 00569 10570 20567 305
Liabilities which are due later
than after five years
Bank loans18 12714 39600
Other non-current liabilities70 20567 30570 20567 305
88 33281 70170 20567 305
19. CURRENT LIABILITIES
Bank loans54 96926 4699 00010 000
Advances received9932500
Trade payables33 39626 12412 30515 632
Accruals and deferred income *)6 3476 9254 6705 138
Other current liabilities7 84911 9023 42914 416
102 66071 74529 40545 186
Liabilities to group companies
Trade payables--1 4541 448
Other current liabilities--2 62511 406
--4 07912 854
Liabilities to associated companies
Trade payables10 44213 4179 67912 725
Other current liabilities3513 0113513 011
10 79316 42810 03015 736
*) The constituents of prepayments and accrued income
Electricity sales3 2063 6343 2063 634
Electricity purchases026400
Interest expenses1 4441 434851860
Accrued personnel expenses848898607634
Others849695610
6 3476 9254 6705 138
20. COMMITMENTS
Account limit agreements
Total amount of granted limit46 00037 00013 00013 000
Available5 2316 61300
Leasing contract payments
Payments during the following financial year11291021
Fees to be paid later214212
14431233
Shares pledged
For associated companies' liabilities1 8181 8181 8181 818
Guarantees
For associated companies' liabilities12 2879 47112 2879 471
For other companies' liabilities1 6101 6101 6101 610
Other commitments
For the group company41 932110 58641 932110 586
Other own commitments27 43923 76123 60320 327
The parent company has a 5-year long-term rental agreement for its facilities. The rental period began on 1 January 2015. According to the agreement, the company assumes rental liability.
For wind power projects, the regular long-term rental liabilities towards landowners apply, including the liability for disassembly of the plants once generation is discontinued, as well as restoration of the site.
21. DERIVATIVE AGREEMENTS
Interest rates derivatives
In accordance with the company’s financing policy, it only concludes derivative agreements with the purpose of hedging. The interest rate risk is hedged through interest rate swap agreements by converting floating rate loans into fixed interest rate loans. The company’s hedging relationships are substantially efficient, excluding the effects of negative reference rates on contracts which will mature before 2020. The terms of the hedged risk and hedging instrument are well matched in other respects. The contracts will terminate between 2018 and 2023.
Contracts that will mature before 2020
Nominal value57 00067 00051 00061 000
Fair value-582-1 782-343-1 380
Contracts that will mature in 2020 or later
Nominal value218 300226 30052 00052 000
Fair value-4 331-5 742-1 849-2 181
Electricity derivatives
Amount GWh0,043,80,00,0
Fair value (€1,000)0-52400
The target of electricity derivatives is to hedge the cash flow created after the transfer to the feed-in tariff in 2012. The agreement has expired in 31.12.2017.
22. EMISSIONS RIGHTS
Emissions trading period2017-20202016-2020
tn CO2tn CO2
Granted emission rights393 051500 161
Annual level allocation103 510107 110
Emission rights utilisation20172016
tn CO2tn CO2
Emissions269 694252 845
Gratuitous emission rights 1 January *)-103 510-107 110
Purchased emission rights -130 000-105 000
Purchased emission right reductions (CER) 00
Deficit (+) / surplus (-)36 18440 735
Gratuitous granted emission rights available on 31 December456 247595 940