Annual Report 2013 | Suomeksi |

22 Long-term and short-term interest-bearing receivables

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EUR million 2013 2012
Long-term loan receivables 1,461 1,381
Finance lease receivables 2 3
Total long-term interest-bearing receivables 1,463 1,384
Other short-term interest-bearing receivables 6 9
Total short-term interest-bearing receivables 1) 6 9
Total 1,469 1,393
1) Included in trade and other receivables in the balance sheet, see Note 24.
Long-term loan receivables include receivables from associated companies EUR 1,415 million (2012: 1,332), mainly from Swedish nuclear companies, OKG AB and Forsmark Kraftgrupp AB, EUR 1,312 million (2012: 1,249). These companies are mainly funded with shareholder loans, pro rata each shareholder’s ownership. The increase is related to investments made according to plan in OKG AB and Forsmark Kraftgrupp AB.
Long-term loan receivables from associated companies also include receivables from the Finnish nuclear company Teollisuuden Voima Oyj (TVO) amounting to EUR 85 million (2012: 58). Olkiluoto 3, the nuclear power plant being built by TVO, is funded through external loans, share issues and shareholder loans according to shareholders' agreement between the owners of TVO. In March 2009, TVO’s shareholders committed to provide a EUR 300 million subordinated shareholders' loan to TVO. The facility will be available until the end of 2015. Fortum’s share of this commitment is at maximum EUR 75 million of which EUR 25 was outstanding at end of December 2013. In March 2012 a new subordinated shareholder loan was given to fund planning of Olkiluoto 4, where Fortum´s share of the commitment is EUR 72 million of which EUR 15 million was outstanding at end of December 2013. In June 2013, TVO’s shareholders committed to provide additional EUR 300 million subordinated shareholders' loan related to Olkiluoto 3. The facility will be available until the end of 2018. Fortum’s share of this commitment is at maximum EUR 75 million. At the end of December 2013 no drawdowns were done on this facility.
For further information regarding credit risk management, see Note 3.8 Credit risk.
Interest-bearing receivables
Repricing
EUR million Effective
interest
rate, %
Carrying
amount
2013
Under
1 year
1-5
years
Over 5
years
Fair
value
2013
Carrying
amount
2012
Fair
value
2012
Long-term loan receivables 2.5 1,466 1,444 11 11 1,505 1,389 1,440
Finance lease receivables 8.5 2 - - 2 4 3 5
Total long-term interest-bearing 
receivables 1) 
2.5 1,468 1,444 11 13 1,509 1,392 1,445
Other short-term interest-bearing 
receivables
0.8 1 1 - - 1 1 1
Total interest-bearing receivables 2.5 1,469 1,445 11 13 1,510 1,393 1,446
1) Including current portion of long-term receivables EUR 5 million (2012: 8).
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