Pohjolan Voima Oyj (PVO; ; ) is the second biggest Finnish energy company, which owns hydropower and thermal power plants (including biofuel-fired power plants).

Shareholders

Pohjolan Voima is a founder and main shareholder of the Olkiluoto Nuclear Power Plant operator Teollisuuden Voima Oyj. Major shareholders of Pohjolan Voima are Finnish pulp and paper manufacturers UPM-Kymmene Oyj and Stora Enso Oyj; other shareholders include power and utility companies owned by several municipalities. Shareholders can receive electricity from each power plant in proportion to their ownership of the shares issued for the same plant or group of plants (so called Mankala principle ) by paying the variable costs in proportion to the electricity actually delivered, while the fixed costs are distributed in proportion to the ownership.

Carbon intensity

Transmission grid

PVO sold its share of the Fingrid national electricity transmission grid operator with €247.4 million in April 2011. Income was delivered total to the owners in 2012. Biggest shares were UPM/Myllykoski €109 million and Stora Enso ca €37 million.