Finland’s largest power utility, Fortum, has recently faced heightened cyber threats and unusual activity around its energy assets, according to CEO Markus Rauramo.
The company, which operates a diverse portfolio including hydro, wind, solar, nuclear, and combined heat and power (CHP) plants, has experienced daily cyberattacks, including denial-of-service attacks, drone sightings, and disturbances to satellite communications. These incidents have also been reported at Fortum’s Swedish facilities, Reuters news report said.
Fortum does not share its spending on cyber security and IT. Fortum earlier said its capital expenditure in 2024 is expected to be approximately EUR 550 million that includes of capital expenditure of EUR 300 million for maintenance.
For the 2024–2026 period, Fortum’s capital expenditure is expected to be approximately EUR 1.6 billion that includes growth capital expenditure of EUR 800 million and
maintenance capital expenditure of EUR 300 million for 2024 and EUR 250 million from 2025 onwards.
From 2025 onwards, Fortum’s maintenance capital expenditure is expected to be EUR 250 million (previously: EUR 300 million). Due to the lower annual maintenance capital
expenditure, Fortum’s capital expenditure (excluding acquisitions) for 2024–2026 is expected to be up to EUR 1.6 billion (previously: up to EUR 1.7 billion).
Fortum has sought assistance from Finnish authorities to investigate the situation. While Finland’s Security and Intelligence Service (Supo) and Finnish police have not commented on who may be behind these attacks, the company has implemented strict security measures. These include enhanced access controls, private security services, and regular drills with authorities to protect its critical infrastructure.
Fortum’s head of security, Jari Stenius, noted an increase in the frequency of incidents but assured that the impact on operations remains minimal. Finnish police are currently investigating several cases involving suspicious activity near vital infrastructure.
