Vaasan Voima

Vaasan Voima Oy is fully owned by EPV Energia Oy. Electricity and district heating are produced in the company's power plant area in Vaskiluoto, Vaasa.

Highly efficient energy with less fuel

The Vaasan Voima power plant in Vaskiluoto produces combined heat and power (CHP), which makes the plant highly efficient while using less fuel.

Plants that generate only electricity create waste heat as a by-product, but with combined heat and power it can instead be directed to the heating network for the region’s homes. The Vaasa power plant covers more than 60% of the city’s district heating needs.

The Mankala operating model

Vaasan Voima produces electricity and heat at cost price for its shareholders according to the Mankala principle.

  • The company sells the electricity it produces to its shareholders at a production cost price.
  • The shareholders pay the company’s expenses in proportion to their share of ownership.
  • It is not the goal of a Mankala company to make a profit or pay dividends.
  • The owners reap the benefits by using the energy produced or by selling it.
  • The Mankala operating model aims to pool the owners’ resources and share the risks in order to implement large power plant projects that are competitive in terms of production costs.

In Finland, more than 40% of electricity is produced according to the Mankala principle, at production cost price.

Find out more about Vaasan Voima

Annual reports and financial statements (in Finnish)