Fortum to credit E11 million to customers following price case agreement
The Swedish Energy Market Inspectorate and Sweden's energy companies have agreed to finalize the ongoing court cases regarding net prices. The company's customers in the Stockholm City area will get a one-time repayment of E2 million. Fortum will divide the one-time repayment between approximately 465,000 customers. The amount for an individual customer depends on the tariff-fuse and power demand. The company will refrain from price increases in the West Coast area to a value of E9 million as a consequence of the decision from the Swedish Energy Market Inspectorate. Therefore, the previously announced price increase will be withdrawn on the West Coast net area from January 1, 2009. Fortum said that it will now concentrate on the new net fee model which sets out for the approval of the net fees in advance. This model will apply from 2012 and Fortum is planning to contribute actively in order to achieve a clear model for the future.