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Caruna to raise electricity distribution prices due to cost increases

Costs are rising at an increasing rate in Finland, and this also affects Caruna's costs. Electricity network construction has become more expensive, and the costs of energy losses have risen substantially this year. Interest rate levels are also higher. For this reason, the network service rates will rise from 1 January 2023.
Press release · Tue, 11/22/2022 - 11:00

Caruna Group 1 January – 30 June 2022: Significant changes in the operating environment – the energy transition requires development of the electricity network at a rapid rate

Caruna's operating environment deteriorated significantly in the first half of 2022 due to the exceptional tightening measures taken by the regulator in the middle of the regulatory period, as well as the general increase in costs. The alterations to the regulation model will cause the company's permitted returns to decrease by approximately 40 per cent this year in comparison with 2021. The changes will show in the revenues of the years to come. The Group's net sales from January to June amounted to EUR 253.6 (258.9) million, and it invested EUR 58.5 (60.9) million.
Press release · Thu, 09/08/2022 - 13:59

Jyrki Tammivuori appointed CEO of Caruna as of 13 May 2022

Caruna’s Board of Directors has appointed Jyrki Tammivuori, M.Sc (Econ) CEO of Caruna as of 13 May, 2022. Tammivuori has been working for Caruna since 2015, first as CFO. Since 2018 Tammivuori has held the position of CFO and deputy CEO at Caruna. Tammivuori was appointed Acting CEO of Caruna in March 2022.
Press release · Mon, 05/16/2022 - 11:05

Jyrki Tammivuori appointed Acting CEO of Caruna

Caruna’s Board of Directors has appointed Jyrki Tammivuori, M.Sc (Econ) Acting CEO of Caruna as of 23 March, 2022. Tammivuori has been working for Caruna since 2015, first as CFO. Since 2018 Tammivuori has held the position of CFO and deputy CEO at Caruna.
Press release · Wed, 03/23/2022 - 17:38

Caruna's Annual Report 2021 published

The Caruna Group (Caruna) Annual Report for 2021 has been published at caruna.fi/vuosiraportti2021. The Annual Report contains sections on Corporate Responsibility and Governance and, as separate pdf files, also the ESG indicator section that summarises number data, as well as the financial statements for 2021.
Press release · Thu, 03/17/2022 - 15:24

Standard & Poor's lowers Caruna's credit rating

International credit rating agency Standard & Poor's (S&P) lowers electricity distribution company Caruna's credit rating from "BBB+; Credit Watch Negative" to "BBB; Outlook Stable". The drop is due to the exceptional changes made to the regulation model during the regulatory period for electricity distribution companies, which led S&P to reassess the Finnish regulatory framework for DSOs from "strong" to "strong/adequate" and to change the credit rating. The changes therefore weaken the industry's financial position and prospects in the eyes of international investors.
Press release · Wed, 02/23/2022 - 15:33

More than half of Finns would choose a hybrid or fully electric vehicle as their next car – the pace of the energy transition is accelerating

A citizens' survey shows a clear trend among consumers: more than half (55%) of Finns would choose a hybrid or fully electric vehicle as their next car. People living in South Finland and people aged 25–44 would choose a hybrid or fully electric car more than other age groups. The figures are revealed by a citizens' survey commissioned by electricity distribution company Caruna.
Press release · Mon, 01/31/2022 - 10:36

Electricity distribution company Caruna's business largely meets the criteria of EU Taxonomy for sustainable activities

Caruna has carried out an assessment of the sustainability of its operations concerning mitigation of and adaptation to climate change. According to the assessment, 99.7% of Caruna's net sales and 99.1% of investments are in line with the EU taxonomy for sustainable activities. The assessment was carried out in accordance with the technical screening criteria for assessing the electricity transmission and distribution industry. Sustainability consulting company Third Rock assisted in the assessment.
Press release · Tue, 12/07/2021 - 16:30