Annual Report 2013 | Suomeksi |

35 Pledged assets

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EUR million 2013 2012
On own behalf
For debt
Pledges 301 293
Real estate mortages 137 137
For other commitments
Real estate mortages 103 124
On behalf of associated companies and joint ventures
Pledges and  real estate mortgages 3 3
35.1 Pledged assets for debt
Finnish participants in the State Nuclear Waste Management Fund are allowed to borrow from the fund. Fortum has pledged shares in Kemijoki Oy as a security. The value of the pledged shares is unchanged, EUR 269 million on 31 December 2013 (2012: 269).
Pledges also include bank deposits as trading collateral of EUR 12 million (2012: 4) for trading of electricity and CO2 emission allowances in Nasdaq OMX Commodities Europe, in Intercontinental Exchange (ICE) and European Energy Exchange (EEX).
Fortum Tartu in Estonia (60% owned by Fortum) has given real estate mortgages for a value of EUR 96 million (2012: 96) as a security for an external loan. Real estate mortgages have also been given for loans from Fortum's pension fund for EUR 41 million (2012: 41).
Regarding the relevant interest-bearing liabilities, see Note 28 Interest-bearing liabilities.
35.2 Pledged assets for other commitments
Fortum has given real estate mortgages in power plants in Finland for a value of EUR 103 million (2012: 124) as a security to the Ministry of Employment and Economy for the uncovered part of the legal liability and unexpected events relating to costs for future decommissioning and disposal of spent fuel in the wholly owned Loviisa nuclear power plant. The size of the securities given is updated every year in June, based on the decisions regarding the legal liabilities and the funding target which takes place around year-end every year. Due to the yearly update, the amount of real estate mortgages given as a security decreased by EUR 21 million. Pledges given related to Inkoo and Naantali power plants.
See also Note 30 Nuclear related assets and liabilities
and note 38 Contingent liabilities.


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