Helen’s year 2023
We updated our strategy and continued to make significant investments in a sustainable energy system. We decommissioned the Hanasaari power plant that served the residents of Helsinki for nearly 50 years, which resulted in a historic reduction in our emissions. We developed our digital services and introduced services that support our customers’ smart energy usage.
Year of action
Helen Group's Annual Review and Financial Statements for the year 2023 have been published on our website. The Annual Review consists of the Annual Report and the Sustainability Report which complies with the requirements of the GRI standards.
Reports and publications of 2023
Annual Report (pdf)
The transition to a sustainable energy system became concrete in 2023 with the closure of the coal-burning Hanasaari power plant and the deployment of new heat sources to replace it, such as the seventh and last heat pump at the Katri Vala heat pump plant. We invested EUR 421 million in carbon neutral energy and, at the end of the year, 55% of our energy production was carbon neutral.
Sustainability Report (pdf)
Our direct greenhouse gas emissions (Scope 1) were 1.66 million tCO2e, a reduction of approximately 38% from 2022. Specific emissions from our energy production decreased by 33% to 156 gCO2e/kWh. The significant emissions reduction is mainly attributable to the considerable decrease in the use of coal as the Hanasaari power plant was decommissioned.
Financial Statements (pdf)
Helen Group’s net sales increased by 2% to EUR 1,826 million. A significant factor behind the increase was the higher demand for heating, particularly in the latter part of the year, which led to the net sales of heat exceeding the previous year’s level. The average spot price of electricity in 2023 was EUR 57 per MWh, which is significantly lower than the average price of the previous
year. Operating profit amounted to EUR 93 million.