Fortum at Eurelectric Power Summit: Contributing to the dialogue on the European energy security and decarbonisation

On 22–23 May 2024, the Eurelectric Power Summit took place in Lagonissi, Greece. The event is a yearly gathering of the European power sector's stakeholders – CEOs, industry peers, policymakers and media – to talk about the electricity industry's future.  

Taking place only weeks before important EU elections, the Summit discussed vital topics for Europe's future, such as industrial competitiveness, the achievement of Green Deal goals, and the energy trilemma of affordable, reliable, and decarbonised energy. During the event programme, Fortum had two speakers presenting on stage.

Markus Rauramo, the CEO of Fortum, participated in a CEO Executive Dialogue panel debate to explore the implications of the EU elections and the future direction of our energy landscape. He stressed the importance of significant investments in industrial and energy assets to support decarbonisation and economic growth. Additionally, he called for the ambitious deployment of renewables and low-carbon electricity to boost the competitiveness and resilience of European industries.

“The European Green Deal has established a crucial basis for Europe’s climate and energy goals. However, for it to thrive, it now needs to incorporate and advance the industrial and social dimension. I welcome the current shift in political focus to industrial competitiveness and it is key that this new competitiveness deal complements the Green Deal and does not dilute or replace it”, Markus Rauramo stated.

Lari Järvenpää, VP of Customer and Market Intelligence, gave a keynote and joined a panel discussion that focused on the evolving concept of Security of Supply in the energy sector. He emphasised that in the Nordics, particularly in Finland, issues of capacity adequacy during peak demands and increasing volatility in electricity prices are notable. “There’s a need for a resilient energy system capable of withstanding stress and volatility, ensuring a consistent supply even during adverse conditions”, he explained. Furthermore, Lari Järvenpää highlighted the importance of focusing on the needs of customers and society, who prioritize stability and predictability in energy supply. He called for collective efforts to ensure a clean, affordable, and reliable energy system that can withstand stress and volatility, ensuring consistent supply even during adverse conditions.