Operating leases
Group as lessee
Minimum rents to be paid based on non-cancellable lease agreements:
| EUR 1 000 |
2018 |
2017 |
| No later than 1 year |
697 |
327 |
| Later than 1 year and no later than 5 years |
765 |
509 |
| Total |
1 462 |
836 |
The rents recognized as expenses during the period are as follows:
| Rents |
637 |
169 |
| Total |
637 |
169 |
Non-cancellable lease agreements have been made for the office equipment and vehicles.
Pledged promissory notes and financial guarantees
| Pledged promissory notes to the Finnish State Nuclear Waste Management Fund |
666 242 |
655 518 |
| Guarantees given by shareholders related to the nuclear waste management obligation |
135 970 |
187 500 |
The Company under the nuclear waste management obligation is entitled to borrow an amount equal to 75 per
cent of its share in the Finnish State Nuclear Waste Management Fund. TVO has lent the funds borrowed from the
fund to its shareholders and has pledged the receivables from the shareholders as collateral for the
loan.
The absolute guarantees given by the equity holders of the company are given to cover the unfunded portion
of the nuclear waste management obligation and unexpected events as determined in the Nuclear Energy Act.
Commitments
Contingent liabilities given on own behalf
| EUR 1 000 |
2018 |
2017 |
| Bank guarantees |
7 000 |
6 900 |
Investment commitments
Agreement-based commitments regarding the acquisition of
property, plant and equipment:
| OL1 and OL2 |
88 500 |
95 000 |
| OL3 |
351 300 |
697 000 |
| Total |
439 800 |
792 000 |
Pending Court Cases and Disputes
There were no pending court cases or disputes in the end of period
under review.
CO2 emission rights
In principle TVO has, on 31 December, emission rights at least the
same amount as the actual annual emissions are. If the actual emissions exceed the amount of the emission
rights that TVO possesses, TVO has booked the expense for exceeding emission rights at the market value on
31 December.
|
2018
t CO2 |
EUR 1 000 |
2017
t CO2 |
EUR 1 000 |
| Total annual emissions from production facilities |
525 815 |
|
121 427 |
|
| Possessed emission rights |
531 792 |
|
122 437 |
|
| Emission rights and emission right reductions bought 1) |
530 000 |
8 835 |
109 000 |
677 |
TVO is responsible for the amount of emission rights corresponding to its share of the production of
the plant.
1) The purchases of the emission rights and emission right reductions are included in
materials and services. The emission rights that TVO possesses on 31 December are included in intangible
assets on the balance sheet.
