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Oliver Metzger
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VIE VEOLIA ENVIRONNEMENT SA
FORTUM FORTUM OYJ
CPG COMPASS GROUP PLC
STMN STRAUMANN HOLDING AG
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Oliver Metzger
  • Oliver Metzger
VIE VEOLIA ENVIRONNEMENT SA
FORTUM FORTUM OYJ
CPG COMPASS GROUP PLC
STMN STRAUMANN HOLDING AG
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FORTUM FORTUM OYJ
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PLSV-NO PARATUS ENERGY SERVICES
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E36 SEABIRD EXPLORATION LTD.
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  • ABGSC Renewable Energy Research
  • Daniel Vårdal Haugland
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Louis Boujard ... (+3)
  • Louis Boujard
  • CFA
  • Philippe Ourpatian
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Louis Boujard ... (+3)
  • Louis Boujard
  • CFA
  • Philippe Ourpatian
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Daniel Vårdal Haugland
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11/25/25 November 25, 2025 1 EN
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  • Daniel Vårdal Haugland
  • John Olaisen
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EQNR EQUINOR ASA
FORTUM FORTUM OYJ
IWS-NO INTEGRATED WIND SOLUTIONS
VTURA VENTURA OFFSHORE HLDGS LTD
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Daniel Vårdal Haugland
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ABGSC Energy Research ... (+7)
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E36 SEABIRD EXPLORATION LTD.
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NOL NORTHERN OCEAN
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  • Lars Trongaard Brattli
  • Martin Mauseth
  • Njål Kleiven
  • Stian Wibstad
AKRBF AKER BP ASA
FORTUM FORTUM OYJ
E36 SEABIRD EXPLORATION LTD.
DNO DNO ASA CLASS A
TGS TGS-NOPEC GEOPHYSICAL COMPANY ASA
11/18/25 November 18, 2025 1 EN
ABGSC Renewable Energy Research ... (+2)
  • ABGSC Renewable Energy Research
  • Daniel Vårdal Haugland
11/18/25 November 18, 2025 1 EN
Martin Marandon-Carlhian ... (+3)
  • Martin Marandon-Carlhian
  • Stephane Houri
  • Steven Boumans
IFX INFINEON TECHNOLOGIES AG
EDEN EDENRED SA
RR. ROLLS-ROYCE HOLDINGS PLC
CA CARREFOUR SA
FORTUM FORTUM OYJ
KBC KBC GROUP N.V.
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HOT HOCHTIEF AG
EOAN E.ON SE
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AD KONINKLIJKE AHOLD DELHAIZE N.V.
SIE SIEMENS AG
DHER DELIVERY HERO SE
SHL SIEMENS HEALTHINEERS AG
MRNA MODERNA INC.
AGN AEGON N.V.
11/13/25 November 13, 2025 1 EN
Martin Marandon-Carlhian ... (+3)
  • Martin Marandon-Carlhian
  • Stephane Houri
  • Steven Boumans
IFX INFINEON TECHNOLOGIES AG
EDEN EDENRED SA
RR. ROLLS-ROYCE HOLDINGS PLC
CA CARREFOUR SA
FORTUM FORTUM OYJ
KBC KBC GROUP N.V.
FHZN FLUGHAFEN ZURICH AG
MRK MERCK KGAA
HOT HOCHTIEF AG
EOAN E.ON SE
RWE RWE AG
DTE DEUTSCHE TELEKOM AG
UTG UNITE GROUP PLC
ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA
STR STRABAG SE
BNR BRENNTAG SE
HLAG HAPAG-LLOYD AG
AD KONINKLIJKE AHOLD DELHAIZE N.V.
SIE SIEMENS AG
DHER DELIVERY HERO SE
SHL SIEMENS HEALTHINEERS AG
MRNA MODERNA INC.
AGN AEGON N.V.
11/13/25 November 13, 2025 1 FR
Louis Boujard ... (+3)
  • Louis Boujard
  • CFA
  • Philippe Ourpatian
PREMIUM
FORTUM FORTUM OYJ

Fortum : Are we nearing the end of the low-price paradigm in Nordics?

The Nordic electricity system is entering a phase of lasting change: demand is growing structurally (electrification, data centres), while controllable supply is stagnating, and variable renewables are dominating growth. Based on the analysis developed in this note, these changes are set to drive long-term price growth that is not yet reflected in the consensus. This shift could be addressed at the CMD on 25 November. Fortum, with its low-carbon mix (hydro + nuclear), deleveraged balance sheet a...

11/12/25 November 12, 2025 1 EN
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