Stora Enso and Vattenfall sign long-term electricity supply contract

STOCKHOLM, March 19, 2008 (Press Release) - Vattenfall has signed an agreement with Stora Enso to supply electricity up to and including 2019. This is one of the largest ever contracts in Sweden and will cover around 13 TWh.

In addition to supplying electricity, the agreement also includes greater cooperation with Vattenfall as balance provider where Vattenfall will level out differences between Stora Enso’s forecast and actual electricity usage. The two companies are also looking into working together on energy efficiency.

"Stora Enso has enjoyed a very smooth relationship with Vattenfall which we are now extending and expanding. The situation with high electricity prices continues to weigh heavily on our power intensive industry.

In these prevailing circumstances, a long-term contract is additionally important for us. This agreement will help lay a stable platform for our business activities over the coming decade," says Christer Ågren, Executive Vice President and Country Manager Stora Enso Sweden. "Vattenfall wants to play its part in creating the right long-term conditions for base industries and ensure they continue to invest in the Nordic region. The agreement with Stora Enso demonstrates this desire," says Hans von Uthmann, Senior Executive Vice President Vattenfall and Head of Business Group Nordic. At the same time, agreements of this type are crucial to enable Vattenfall to invest in electricity production.

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