Stakeholder engagement

Being open to stakeholders’ expectations is an essential part of sustainable business. We have asked our stakeholders about their expectations towards Fingrid. We have taken these expectations into account as part of our materiality analysis. The starting point for the identification was to describe our stakeholders’ expectations and reflect on Fingrid’s means to meet them.

The operations of a TSO are bound to affect several third parties. In line with our values, we aim to engage openly, honestly and equally with our stakeholders. An appointed executive is in charge of our customer perspective, and the heads of functions oversee stakeholder activities within their own areas of responsibility. We gain insight into our stakeholders’ opinions through various surveys. Our task is to serve primarily our direct customers, such as electricity producers, distribution network companies and major electricity consumers, but also other stakeholders, such as shareholders, landowners, authorities, financiers and service providers. Our operations are based on competent personnel who identify the impacts of their activities on the various stakeholders.

In terms of communications, our objective is to encounter our stakeholders in a timely fashion and disclose matters openly, ensuring that the right people are easy to contact. Our communications must be easy to understand and timely. Through quality communications, we can influence social debate, thus promoting the targets we have set ourselves and furthering our success in a task that bears great significance for society.

Different stakeholders have different expectations of Fingrid. Our customers expect Fingrid to secure a reliable electricity supply for the nation, a well-functioning electricity market, and affordable grid transmission pricing. Generally speaking, our stakeholders expect Fingrid to be a forerunner in transmission system operation on the increasingly international electricity market, which requires continuous development of our operations and our productivity. We pro-actively and thoroughly plan our capital expenditure on a sound financial basis, while also taking society’s expectations into account. We ensure that investments in the transmission grid are made effectively and, from the perspective of the national economy, at the right time, to take care of the condition of the grid in a sensible manner. We are also expected to provide proactive and reliable electricity transmission, to keep the lights on in Finland and to ensure that the consumption and production of electricity in Finland’s power system are always balanced.

Active co-operation with our stakeholders promotes the development of the electricity market. Ensuring a market-based approach benefits customers and enables the cost-effective transition to a clean power system. European legislation and regional solutions on market rules have a significant impact on the electricity markets. At Fingrid, we actively participate in the preparation and implementation of European legislation, striving to safeguard the best interests of our Finnish stakeholders. In electricity transmission connections between neighbouring countries and within Finland, we try to avoid transmission bottlenecks and to keep Finland as a single price area.

We develop services together with our customers. We take into account our customers’ needs and their business challenges. The foundation for our customer work is listening and clear communication. We focus on operating fairly and taking into account the different needs of the industry players. We promote the creation of new services and we strive to enable new players to enter the electricity market.

Financiers and credit rating agencies as well as shareholders expect us to plan the company’s finances, capital expenditure, risk management and financing in the long term. Our decision-making and operations are based on the right information at the right time and on our objective to be efficient, profitable and responsible.

Co-operation with landowners and neighbours living near our transmission lines is important to us. The land and trees under the transmission lines remain the property of the landowner. We help landowners see where they can influence a transmission line project and encourage them to defend their rights. Respectful interaction with people and co-operation aimed at reducing the harm caused to humans and nature are pursued throughout the life cycle of the transmission line. We communicate actively with landowners, and based on the feedback we receive, we constantly develop our ways of operating when it comes to both our employees and the hundreds of people employed by various contractors within our projects.

Contractors and service providers are a significant resource for our company through their expertise and the work input we receive from them. Contractors and service providers mainly expect from us fair and timely payment of wages, a safe working environment and the possibility to anticipate future situations collaboratively.

We develop our personnel’s expertise to achieve a work community that is productive, innovative and healthy. We ensure this through strategic management. Our employees interact with a number of different stakeholders on a daily basis. In our stakeholder engagement, we follow practices that are in line with the company’s values. Good interaction must be the goal in all stakeholder engagement. Our employees have been trained on how to engage with stakeholders and we make sure that everyone is aware of our stakeholders’ expectations and knows how to act responsibly. The executive management group reviews the success of stakeholder engagement twice a year.

Results of stakeholder surveys

We regularly survey our stakeholders’ satisfaction with Fingrid. The purpose of the surveys is to enable us to identify not only the successes and strengths but also the improvement areas. The feedback received can also be a source of tacit signals, suggesting, for example, what the sector should prepare for.

In 2019, Fingrid carried out exceptionally extensive surveys into the opinions of its various stakeholders:

Employer brand survey
Overall rating for Fingrid’s reputation 3.67/5.00
“Fingrid’s strengths as an employer are its good and equal treatment of people and good work atmosphere. Fingrid is also known as a financially stable and responsible player.

Luottamus&Maine survey, general public
Overall rating for Fingrid’s reputation 3.20/5.00
“The positive development of reputation is reflected as a more positive behaviour in times of recommendation and crisis, in particular.”

Luottamus&Maine survey, policymakers
Overall rating for Fingrid’s reputation 3.64/5.00
“The sizable improvement in reputation is significant and is reflected in every aspect of reputation.”

Customer satisfaction
NPS index 36
“Customers consider Fingrid an open and collaborative player, which is why they are happy to recommend to others Fingrid’s way of working with customers.”

Authority survey
NPS index 49
“A well-managed, expert organisation.”

Media barometer survey
Overall rating for Fingrid's reputation among journalists 3,57/5,00
“Among journalists, Fingrid’s reputation rose to a good level. In terms of media communications, Fingrid received the highest score for the reliability of communication.”

Landowner surveys concerning the transmission line projects completed during the year
The overall grades varied between 3.6–4.3 (on a scale of 1–5).

Fingrid’s key stakeholders and channels of engagement
Stakeholder Stakeholder’s expectations Fingrid’s measures Communication channels

Customers

  • Reliable electricity and a well-functioning electricity market
  • Services that meet customers’ needs
  • Affordable pricing
  • Predictable operations
  • Co-operation in grid
    operations, maintenance
    and planning
  • Customer service planning and continuous engagement
  • Customer committees
  • Customer events
  • Customer and stakeholder
    questionnaires
  • Seminars by Fingrid and others
  • Press releases
  • Website
  • Customer magazine
  • Media publications
  • Social media
  • Newsletter
  • Info sessions and meetings

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Landowners and neighbours

  • Responsible operating methods in land-use and environmental matters to reduce negative impacts
  • Proactive and reliable contact
  • Operating methods that reduce land-use and environmental impacts
  • Map feedback service
  • Feedback surveys about completed investment projects
  • Direct contacts
  • Landowner bulletins
  • Events for the public and
    other events
  • Official info sessions and
    other events
  • Website
  • Media publications
  • Social media

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Personnel

  • Equal treatment and rewards
  • Well-being in the work community
  • Occupational safety
  • Professional development
    opportunities
  • Stable employment
  • Employee rewards and benefits
  • Daily interaction,
    performance reviews and personnel events
  • Personnel surveys
  • Personnel association activities
  • Alumni collaboration
  • Direct contacts
  • Intranet
  • Official info sessions and other events
  • Website
  • Social media

​​​​​​​

Contractors and service providers

  • Occupational safety
  • Responsible treatment of suppliers
  • Predictability and
    continuity
  • Training and audits
  • Promoting occupational safety
  • Joint development projects
  • Direct contacts
  • Fingrid’s seminars
  • Website
  • Media publications
  • Social media

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Financers and credit rating agencies

  • Debt service consistent
    with agreements
  • Responsible business and
    good governance
  • Transparent reporting
  • Regular engagement
    and co-operation
  • Direct contacts
  • Website
  • Media publications
  • Stock exchange releases
  • Official info sessions and
    other events

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Shareholders

  • Responsible business and
    good governance
  • Improvement in productivity
  • Preservation of
    shareholder value and stable return development
  • General meetings
  • Board work
  • Dividends
  • Direct contacts
  • Fingrid’s seminars
  • Press releases
  • Media publications
  • Website
  • Social media
  • Official info sessions
    and other events

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Policymakers

  • Reliable electricity
  • Shaping the clean and
    market-oriented power system of the future
  • Well-functioning electricity
    markets
  • Participation in the
    electricity markets
  • Contact with
    decision-makers
  • Reputation&Trust
    survey of policymakers
  • Direct contacts
  • Seminars by Fingrid and others
  • Press releases
  • Media publications
  • Website
  • Social media

​​​​​​​

Authorities and organisations

  • Promotion of common matters
  • Clear, reliable and timely
    communication
  • Expertise
  • Working groups, committees and co-operation forums
  • Statements
  • Participation in the Power and District Heat Pool
  • Regular contact
  • Direct contacts
  • Fingrid’s seminars and other seminars
  • Press releases
  • Media publications
  • Website
  • Social media

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Other partners

  • Expertise
  • Promotion of
    common matters
  • Engagement with TSOs
  • Collaboration with ENTSO-E, RSC and other industry
    players
  • R&D projects
  • Collaboration with learning institutes
  • Trade shows
  • Direct contacts
  • Fingrid’s seminars and other seminars
  • Press releases
  • Media publications
  • Website
  • Social media
  • Newsletter
  • Info sessions and meetings