Keminmaan Energia ja Vesi oy requests police investigation into former CEO’s salary irregularities

The board of Keminmaan Energia ja Vesi oy has filed a request for an investigation with the police regarding financial irregularities connected to the salary of the former CEO. These issues were revealed following the CEO’s dismissal in November 2024 and involve actions taken between 2019 and 2024.

At this stage, further information is limited and additional updates will be provided as the investigation progresses, stated acting CEO Mikael Palosaari. It remains uncertain whether the police will initiate a preliminary investigation into this matter.

The energy and water company terminated the former CEO’s employment after about five years, alongside the dismissal of the board chairman during the same period. The former chairman, Teemu Alatalo, expressed support for the investigation, highlighting the board’s collective responsibility.

Within Keminmaan Energia ja Vesi oy, there have been ongoing tensions, particularly between its board and the municipality. Alatalo criticized the local government for its inability to make decisions, especially concerning district heating production and the condition of the thermal power plant, which he noted is nearing the end of its operational life.

In response, the municipal leader, Hannele Matinlassi, stated that the disagreements have been addressed, and preparations for district heating solutions are underway, with assessments requested from the energy company regarding risks and production alternatives.

There have also been delays in separating the electricity network operations from other business activities, which regulatory authorities have mandated must be completed by next summer. Matinlassi reassured that the matter is progressing, and expert assistance has been sought to navigate necessary changes related to energy market regulations.