NOTES TO THE BALANCE SHEET (€1,000)    
Group Parent company
2020201920202019
9. INTANGIBLE ASSETS
Intangible rights
Acquisition cost 1 Jan1,4501,458181,254
Increases26900
Decreases0-170-1,237
Acquisition cost 31 Dec1,4761,4501818
Accumulated depreciation and impairment charges 1 Jan-482-4020-360
Accumulated depreciation from deduction000360
Depreciation for the period-80-8000
Book value 31 Dec9149681818
Goodwill
Acquisition cost 1 Jan6,0006,00000
Acquisition cost 31 Dec6,0006,00000
Accumulated depreciation and impairment charges 1 Jan-4,400-4,00000
Depreciation for the period-400-40000
Book value 31 Dec1,2001,60000
Emission right reductions
Acquisition cost 1 Jan3,1063,7503,1063,750
Increases740683740683
Decreases-3,378-1,327-3,378-1,327
Acquisition cost 31 Dec4683,1064683,106
Book value 31 Dec4683,1064683,106
Other non-current expenses
Acquisition cost 1 Jan26,67926,5133,5364,702
Increases215166072
Decreases000-1,238
Acquisition cost 31 Dec26,89426,6793,5363,536
Accumulated depreciation and impairment charges 1 Jan-9,899-8,510-2,947-3,819
Accumulated depreciation from deduction0001,184
Depreciation for the period-1,387-1,389-312-311
Book value 31 Dec15,60816,780277589
Total intangible assets
Acquisition cost 1 Jan37,23537,7226,6609,707
Increases981858740755
Decreases-3,378-1,344-3,378-3,802
Acquisition cost 31 Dec34,83837,2354,0226,660
Accumulated depreciation and impairment charges 1 Jan-14,781-12,912-2,947-4,179
Accumulated depreciation from deduction0001,544
Depreciation for the period-1,867-1,869-312-311
Book value 31 Dec18,19122,4547633,713
10. TANGIBLE ASSETS
Land
Acquisition cost 1 Jan11,23310,8291,9922,549
Increases2842,26501,545
Decreases-266-2,3700-2,102
Transfer between categories13250900
Acquisition cost 31 Dec11,38211,2331,9921,992
Book value 31 Dec11,38211,2331,9921,992
Revaluations included in land acquisition costs
Acquisition cost 1 Jan01,68201,682
Decreases0-1,6820-1,682
Revaluations 31 Dec0000
Peat resources
Acquisition cost 1 Jan4,5714,48300
Increases18800
Acquisition cost 31 Dec4,5724,57100
Accumulated depreciation and impairment charges 1 Jan-334-18700
Depreciation for the period-180-14600
Impairment charges for the period-572000
Book value 31 Dec3,4864,23700
Buildings
Acquisition cost 1 Jan78,37979,0882,9785,924
Increases1,293178316
Decreases0-8860-2,963
Acquisition cost 31 Dec79,67278,3792,9812,978
Accumulated depreciation and impairment charges 1 Jan-16,407-14,093-2,381-4,139
Accumulated depreciation from deduction076701,812
Depreciation for the period-3,116-3,081-49-53
Book value 31 Dec60,14961,972551597
Machinery and equipment
Acquisition cost 1 Jan384,018379,7312,67017,942
Increases14,3543,88132197
Investment aid-105000
Decreases-62-4290-15,470
Transfer between categories083600
Acquisition cost 31 Dec398,205384,0182,7022,670
Accumulated depreciation and impairment charges 1 Jan-98,446-79,383-2,258-7,282
Accumulated depreciation from deduction4417605,119
Depreciation for the period-20,032-19,239-94-95
Book value 31 Dec279,771285,572350411
Share of production machines and appliances from book value 31 Dec278,773284,445232258
Transmission network
Acquisition cost 1 Jan79,12472,515050,946
Increases4,2409,62500
Decreases0-2,1800-50,815
Transfer between categories0-83600
Acquisition cost 31 Dec83,36379,1240132
Accumulated depreciation and impairment charges 1 Jan-23,308-21,2240-19,257
Accumulated depreciation from deduction0436019,126
Depreciation for the period-2,813-2,51900
Book value 31 Dec57,24355,81600
Other tangible assets
Acquisition cost 1 Jan1,0811,08100
Acquisition cost 31 Dec1,0811,08100
Accumulated depreciation and impairment charges 1 Jan-791-71900
Depreciation for the period-72-7200
Book value 31 Dec21729000
Peat purchases in progress
Acquisition cost 1 Jan3281,39200
Decreases-196-55600
Transfer between categories-132-50900
Acquisition cost 31 Dec032800
Acquisition cost 31 Dec032800
Prepayments and purchases in progress
Acquisition cost 1 Jan39,67214,897211410
Increases47,57334,5905611
Decreases-11,039-9,8150-210
Acquisition cost 31 Dec76,20539,672267211
Acquisition cost 31 Dec76,20539,672267211
Total tangible assets
Acquisition cost 1 Jan598,406564,0167,98277,771
Increases67,74550,626911,770
Investment aid-105000
Decreases-11,563-16,2370-71,559
Acquisition cost 31 Dec654,482598,4068,0737,982
Accumulated depreciation and impairment charges 1 Jan-139,286-115,606-4,771-30,679
Accumulated depreciation from deduction441,379026,056
Depreciation for the period-26,214-25,058-143-148
Impairment charges for the period-572000
Book value 31 Dec488,455459,1203,1593,211
11. CAPITALISED INTEREST COSTS
Capitalised in the financial year64628500
Without depreciation of capitalised interest costs
Prepayments and purchases in progress93128500
Other non-current expenses12813400
Buildings and structures61764700
Machinery and equipment3,2923,51700
4,9684,58300
12. INVESTMENTS
Interests in Group companies
Acquisition cost 1 Jan264264163,945152,136
Increases0011,00011,810
Acquisition cost 31 Dec264264174,945163,945
Book value 31 Dec264264174,945163,945
Interests in associated companies
Acquisition cost 1 Jan138,089151,815131,390144,485
Decreases-6,700-13,726-5,000-13,094
Acquisition cost 31 Dec131,389138,089126,390131,390
Book value 31 Dec131,389138,089126,390131,390
Other shares and interests
Acquisition cost 1 Jan5,1935,1965,1935,196
Decreases0-30-3
Acquisition cost 31 Dec5,1935,1935,1935,193
Book value 31 Dec5,1935,1935,1935,193
Total investments
Acquisition cost 1 Jan143,546157,274300,529301,816
Increases0011,00011,810
Decreases-6,700-13,729-5,000-13,097
Acquisition cost 31 Dec136,846143,546306,529300,529
Book value 31 Dec136,846143,546306,529300,529
NOTES TO THE BALANCE SHEET (€1,000)      
INVESTMENTS
Name of entityRegistered officeGroup share, %Group voting control, %Parent company share, %Shares owned by parent company
SharesBook value
Interests in Group companies
EPV Alueverkko OyVaasa100.0100.0100.017,00017,455
EPV Bioturve OyVaasa100.0100.0100.01,0006,150
EPV Tase OyVaasa100.0100.0100.0500500
EPV Teollisuusverkot Oy (A)Vaasa90.090.090.0902,003
EPV Windpower Ltd (A)Vaasa100.0100.0100.05642,678
EPV Windpower Ltd (B)Vaasa100.0100.0100.05,20025,933
EPV Windpower Ltd (C)Vaasa100.0100.0100.04,70023,500
EPV Windpower Ltd (D) Vaasa100.0100.0100.010,00050,000
EPV Windpower Ltd (E) Vaasa100.0100.0100.02,43612,072
EPV Windpower Ltd (E) *)Vaasa100.0100.0100.01,8009,000
100.0100.0100.024,700123,183
Rajakiiri Oy (A)Tornio60.260.260.29,4313,313
Rajakiiri Oy (B)Tornio75.275.275.25,7624,246
65.165.165.115,1937,559
Seinäjoen Voima OyVaasa100.0100.0100.01,0011,353
Tornion Voima OyTornio100.0100.0100.07,50015,008
Vaasan Voima OyVaasa100.0100.0100.03,5001,473
Vaskiluodon Teollisuuskiinteistöt OyVaasa100.0100.0100.04,000264
Interests in associated companies
EPM Metsä OyVaasa50.050.050.0200,000174
Rapid Power OyVaasa50.050.050.05,0044
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 OyEspoo17.617.617.630,00030
Pohjolan Voima Oyj (A)5.2692,5497,793
Pohjolan Voima Oyj (B)3.2230,5582,735
Pohjolan Voima Oy (B2)5.3297,41820,669
Pohjolan Voima Oyj (C2)3.211,624138
Pohjolan Voima Oyj (C)14.3318,041467
Pohjolan Voima Oyj (M)3.09,355331
Pohjolan Voima Oyj (V)21.5224,7353,952
5.51,784,28036,085
Teollisuuden Voima Oyj (A)6.644,562,21311,399
Teollisuuden Voima Oyj (B)6.644,562,20347,000
6.689,124,41658,399
Manga LNG Oy5.01,389,8851,818
Other shares and interests owned by the parent company
Suomen Energiavarat Oy (A)Vaasa100.04,4003
Suomen Energiavarat Oy (B)Vaasa3.91,1764,998
Other192
306,529
*) Subscription right certificate
13. INVENTORIES    
Power plants' fuel8,8476,44700
Advance payments740730730730
9,5877,176730730
14. NON-CURRENT RECEIVABLES
Loan receivables67,31545,03667,31545,036
Unpaid share capital 1)020,000020,000
Other non-current receivables14319498148
67,45865,23067,41365,185
Receivables from Group companies
Loan receivables1,5204201,520420
Receivables from associated companies
Loan receivables65,69544,51665,69544,516
15. CURRENT RECEIVABLES
Trade receivables29,80932,5808,37813,218
Loan receivables006,1006,050
Unpaid share capital 1)20,0009,00020,0009,000
Accrued income and prepaid expenses *)19,18513,0403,2922,727
Other receivables11,74415,5141,733728
80,73870,13439,50331,722
1) Share issue receivables relate to wind power investments
Receivables from Group companies
Trade receivables--11
Loan receivables--6,1006,050
Prepayments and accrued income1020
Other receivables071,249178
177,3526,229
Receivables from associated companies
Trade receivables3,1533,0452741
Prepayments and accrued income2,6412,3302,6412,330
Other receivables3174853019
6,1115,8602,6982,390
*) Significant items included in prepayments and accrued income
Accrued electricity purchases2,5902,4882,5902,488
Accrued electricity and heat sales7005791260
Accrued emission allowances bought4171630216
Accrued energy aid13,5258,68000
Accrued interest income193209194184
Accrued insurance premiums9580380
Accrued investment subsidies718000
Other9489884239
19,18513,0403,2922,727
16. EQUITY
Restricted equity
Share capital 1 Jan13,77313,77313,77313,773
Increase in share capital17001700
Share capital 31 Dec13,94313,77313,94313,773
Share issue 1 Jan66306630
Unregistered share capital06630663
Transfer to share capital-1700-1700
Share issue 31 Dec493663493663
Share premium reserve 1 Jan051,933051,933
Investment in invested non-restricted equity reserve0-51,9330-51,933
Share premium reserve 31 Dec0000
Revaluation reserve 1 Jan01,24501,245
Revaluation adjustment0-1,2450-1,245
Revaluation reserve 31 Dec0000
Statutory reserve 1 Jan05,27305,273
Investment in invested non-restricted equity reserve0-5,2730-5,273
Statutory reserve 31 Dec0000
Total restricted equity14,43614,43614,43614,436
Non-restricted equity
Invested non-restricted equity reserve 1 Jan258,496191,144258,496191,144
Transfer from restricted equity reserve057,205057,205
Share issue038,337038,337
Capital repayment0-28,1910-28,191
Invested non-restricted equity reserve 31 Dec258,496258,496258,496258,496
Retained result 1 Jan97,76982,45018,80716,636
Revaluation adjustment0-4370-437
Retained result 31 Dec97,76982,01318,80716,199
Result for the financial year12,95815,7572142,608
Total non-restricted equity369,223356,265277,516277,303
TOTAL EQUITY383,659370,701291,953291,739
Depreciation difference
Share from depreciation difference entered under equity94,17177,957--
Calculation of distributable equity 31 Dec
Retained result--18,80716,199
Result for the financial year--2142,608
Invested non-restricted equity reserve--258,496258,496
--277,516277,303
NOTES TO THE BALANCE SHEET (€1,000)  
Share capital by share classShares1 000 €
Series A1
- the right to receive electricity generated through nuclear power by the nuclear power plant units Olkiluoto 1, Olkiluoto 2 and Olkiluoto 3, based on the company Teollisuuden Voima Oyj’s Series A and B shares or shares replacing them3,630,8986,173
Series A2
- the right to receive electricity generated through nuclear power by Teollisuuden Voima Oyj’s nuclear power plant units Olkiluoto 1 and Olkiluoto 2, based on the company Pohjolan Voima Oyj’s Series B shares or shares replacing them250,000425
Series A3
- the right to receive electricity generated through nuclear power by Teollisuuden Voima Oyj’s nuclear power plant unit Olkiluoto 3, based on the company Pohjolan Voima Oyj’s Series B2 shares or shares replacing them600,4861,021
Series B
- the right to receive electricity generated mainly at the Meri-Pori coal power plant, based on the company Teollisuuden Voima Oyj’s Series C and Pohjolan Voima Oyj’s Series C2 shares or shares replacing them64,653110
Series C
- the right to receive electricity generated mainly by Mussalon Voima Oy, based on the company Pohjolan Voima Oyj’s Series M shares or shares replacing them20,51735
Series D1
- the right to receive electricity generated at the Vaskiluodon Voima power plant, based on the company Vaskiluodon Voima Oy’s or, from 1 January 2023, Vaasan Voima Oy’s shares or shares replacing them562,500956
Series D2
- the right to receive electricity generated mainly at Vaskiluodon Voima Oy’s thermal power station in Vaasa, based on the company Pohjolan Voima Oyj’s Series V shares or shares replacing them113,091192
Series D3
- the right to receive electricity generated at the Seinäjoki thermal power station, based on the company Seinäjoen Voima Oy’s shares or shares replacing them13,50023
Series E1
- the right to receive electricity generated in Finland mainly through hydroelectric power, based on the company Pohjolan Voima Oyj’s Series A shares or shares replacing them543,375924
Series E2
- the right to receive electricity generated for the company by the company’s affiliated company Rapid Power Oy in Norway through hydroelectric power and transmitted to Finland265,440451
Series E3
- the right to receive electricity generated in Sweden mainly through hydroelectric power, based on the company Voimapiha Oy’s Series A shares or shares replacing them110,000187
Series F
- the right to receive electricity generated mainly at the Tahkoluoto and Kristinestad power plants, based on the company Pohjolan Voima Oyj’s Series C shares or shares replacing them197,964337
Series G
- the right to proceeds not included in other share series and the liability to pay corresponding expenses302,400514
Series M
- the right to receive liquid natural gas (LNG), based on the company Manga LNG Oy’s shares or shares replacing them6,00010
Series P1
- the right to receive emission reduction allowances acquired by the company from third parties, and the obligation to bear the fixed costs incurred by the company through the acquisition of the allowances by the party in question commensurate with the number of Series P1 shares owned by the party and the variable costs commensurate with the allowances taken by the party74,000126
Series P2
- the right to receive emission reduction allowances acquired by the company from third parties on the basis of acquisition decisions made in 2011 or later, and the obligation to bear the fixed costs incurred by the company through the acquisition of the allowances by the party in question commensurate with the number of Series P2 shares owned by the party and the variable costs commensurate with the allowances taken by the party43,80074
Series T1
- the right to receive electricity generated at the Tornio thermal power station, based on the company Tornion Voima Oy’s shares or shares replacing them120,000204
Series T2
- the right to receive electricity generated at the Raahe CHP power station, based on the company Raahen Voima Oy’s shares or shares replacing them49,53184
Series W1
- the right to receive electricity generated through wind power, based on the company Rajakiiri Oy’s shares or shares replacing them86,971148
Series W2
- the right to receive electricity generated through wind power, based on the company EPV Windpower Ltd’s Series A shares or shares replacing them26,75645
Series W3
- the right to receive electricity generated through wind power, based on the company Suomen Merituuli Oy’s shares or shares replacing them4,9878
Series W4
- the right to receive electricity generated through wind power, based on the company EPV Windpower Ltd’s Series B shares or shares replacing them259,325441
Series W5
- the right to receive electricity generated through wind power, based on the company EPV Windpower Ltd’s Series C shares or shares replacing them235,000400
Series W6
- the right to receive electricity generated through wind power, based on the company EPV Windpower Ltd’s Series D shares or shares replacing them500,000850
Series W7 *)
- the right to receive electricity generated through wind power, based on the company EPV Windpower Ltd’s Series E shares or shares replacing them120,700205
8,201,89413,943
The owners of each share series shall bear the fixed costs of the series in question commensurate with the number of shares they own and variable costs commensurate with the quantity of energy they have taken.
*) Unregistered share issues     
Date of shareholders'ShareSpecial issue
meetingseriesSharesTotal issue price €1,000Share capital €1,000Invested non-restricted equity reserve €1,000
Unpaid
14 Nov 2019W7200,00020,00034019,660
Paid
14 Nov 2019W790,0009,0001538,847
290,00029,00049328,507
17. ACCUMULATED APPROPRIATIONS    
Depreciation difference of deferred tax liabilities24,74920,53600
18. NON-CURRENT LIABILITIES
Bank loans265,036211,75253,10038,104
Other non-current liabilities89,33288,13971,29672,319
354,369299,891124,396110,422
Liabilities to associated companies
Other non-current liabilities73,09674,11971,29672,319
Liabilities maturing in more than five years
Bank loans45,8603,47800
Other non-current liabilities71,29672,31971,29672,319
117,15675,79771,29672,319
19. CURRENT LIABILITIES
Bank loans54,33281,76600
Other current liabilities1,0221,6911,0221,691
Advances received181,81100
Trade payables33,98836,11511,87915,450
Accruals *)10,6368,2604,1525,024
Other current liabilities8,0777,715578758
108,073137,35717,63222,922
Liabilities to Group companies
Trade payables014,6353,837
Other current liabilities--0200
014,6354,037
Liabilities to associated companies
Trade payables7,80012,7367,06411,441
Other current liabilities1,4362,1891,3922,064
9,23514,9258,45613,505
*) Main items of accued expenses
Electricity sales2,8832,9792,8832,979
Electricity purchases1020280
Interest expenses1,4381,746384579
Accrued emission trading654000
Fuel purchases1,077000
Accrued personnel expenses1,5011,495855831
Accrued taxes698780632
Other2,9121,16023
10,6368,2604,1525,024
20. COMMITMENTS
Overdraft agreements
Total amount of granted overdraft83,00073,00023,00013,000
Available15,67613,98000
Leasing contract payments
Maturing next financial year56433934
Maturing later4056636
96994569
Shares pledged, book value of shares
From associated company's liabilities1,8181,8181,8181,818
Guarantees
From associated company's liabilities6,7835,6106,7835,610
For other companies' liabilities1,6101,6101,6101,610
Other commitments
On behalf of Group company59,87076,88259,87076,882
Other own commitments 1)50,20632,73939,66821,846
1) The company has granted shareholder loan commitments in connection to the OL3 project to TVO and PVO, totalling EUR 39.0 million. The company's A1 and A3 shareholders have granted the company counter-commitments totalling EUR 37.8 million to cover the shareholder loan commitments.
The parent company's long-term lease agreement on its premises has been continued by three years, starting on 1 January 2020. According to the agreement, the company assumes rental liability.
Wind power projects involve the usual, non-current rental liabilities to landowners and, after production has ended, the responsibility to remove structures and bring the site to its former state.
21. DERIVATIVE FINANCIAL INSTRUMENTS
Interest rate derivatives
In accordance with the company’s financing policy, it only concludes derivative financial instruments 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 instruments which will mature before 2028. The terms of the hedged risk and hedging instrument are well matched in other respects. The derivative instruments will terminate between 2021 and 2037. The fair value of interest rate swaps on the closing date is the best estimate of future interest expenses that the instruments incur, affecting the interest costs of future financial years.
Derivative instruments that will mature before 2028
Nominal value175,533-45,000-
Fair value-5,444--1,288-
Derivative instruments that will mature in 2028 or later
Nominal value40,000---
Fair value-2,412---
NOTES TO THE BALANCE SHEET (€1,000)    
GroupParent company
22. EMISSION ALLOWANCES
Emission trading period20202019-202020202019-2020
tn CO2 tn CO2 tn CO2 tn CO2
Allocated free emission allowances118,386245,926--
Allocated per year118,386127,540--
Use of emission allowances2020201920202019
tn CO2 tn CO2 tn CO2 tn CO2
Total emissions604,937735,161--
Emission allowances allocated without compensation 1 Jan-118,386-127,540--
Emission allowance purchases-451,000-620,000--
Certified Emission Reduction (CER) purchases0-254--
Deficit (+) / surplus (-)35,551-12,633--
Allocated available free emission allowances 31 Dec108,579240,231--