Fortum's fourth Polish plant

Fortum and the city of Płock have signed an agreement on the purchase of the city's district heating company Płocka Energetyka Cieplna (PEC). Following the acquisition, Fortum will own four heating companies in Poland with aggregate net sales of some EUR 130 (zł.524) million and annual heating production of 3,900 gigawatt-hours. PEC's annual net sales amount to EUR 13 (zł.52) million.

The transaction is still subject to the approval of the Office for Competition and Consumer Protection (UOKiK), which is due to make a ruling within a couple of weeks. Fortum authorities refused to reveal the financial details of the deal.

At the end of October, Fortum signed a contract with the city of Wrocław for the acquisition of a majority stake in the city's district heating company MPEC Wrocław. The company also conducts its activities in the Dolnoœlšskie, Łódzkie and Œwiętokrzyskie voivodships along with owning the Neste gas-station chain.

Fortum is the biggest Scandinavian heat supplier and electric energy producer. The group owns more than 500 plants in Sweden and Finland and employs some 13,000 people. In 2004, its net sales reached EUR 11.7 (zł.47.2) billion.