Good governance

Fennovoima objective and policy

The objective of Fennovoima is to supply electricity to its shareholders at cost price in proportion to their holdings. Fennovoima will improve Finland’s self-sufficiency with regard to electricity while increasing competition on the electricity market. The company aims to own and operate a safe and efficient nuclear power plant.

Fennovoima takes into account the needs and requirements of safety, sustainable development and society at large in everything it does, complying with Finnish legislation. Fennovoima governance is based on transparency and responsibility in management, administration, finances and all other activities.

Business policy

Fennovoima observes the principles of good governance and accounting.

The duties and responsibilities of the various Fennovoima departments are clearly set forth. Fennovoima condemns illegal competition and considers abuses of official position unacceptable.

Corporate structure

The ultimate authority at Fennovoima is the shareholders’ General Meeting. The Annual General Meeting elects nine regular members and three deputy members to the Board of Directors for a term of one year. The company is managed by the CEO, assisted by the management group.

Fennovoima is divided into departments, each of which is headed by a member of the management group. Heads of departments report to the CEO.

The Board of Directors ensures that the CEO, appointed by the Board, discharges his duties in compliance with the relevant regulations and legislation and acts in the best interests of the company.