1.16 Events after the review period and estimate of future outlook
On 5 December 2019, Fingrid Oyj announced that it had, together with the other owners of Nord Pool Holding AS, entered into a binding agreement to sell 66% of the company's shares to Euronext. On 15 January 2020, Fingrid Oyj announced that the transaction has received the necessary authority approvals and that the other preconditions for its completion have been fulfilled. The sale will have a small positive impact on Fingrid’s result and cash flow in the first quarter. Fingrid’s indirect ownership in Nord Pool is 6.4%, which is managed through a holding company jointly owned by the Nordic Transmission System Operators.
Fingrid Group’s profit for the 2020 financial period, excluding changes in the fair value of derivatives and before taxes, is expected to slightly decline compared to the previous year. Fingrid announced on 2 October 2019 that it will maintain the electricity transmission prices in the main grid at their 2019 level in 2020.
Results forecasts for the financial year are complicated especially by the uncertainty related to grid income, ITC income and cross-border transmission income, and to reserve and loss power costs. These are dependent on the variations in outside temperature and precipitation and changes in the hydrological situation in the Nordic countries, which affect electricity consumption and electricity prices in Finland and neighbouring areas and thus also grid transmission volumes. The company’s debt service capacity is expected to remain stable.