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Timo Kiiveri
Executive Vice President, Grid Asset Management, Fingrid Oyj

ITOMS Member Experience Series - Interview with Timo Kiiveri

🎥 Aug 23, 2023 📺 UMS Group Inc. ⏱ 7m
Our guest for this episode is Timo Kiiveri, the Senior Vice President of Fingrid Oyj. Timo has been a participant in the International ...
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Transcript (15 segments)
I
Interviewer0:00
I'm here now with Timo Kiiveri from Fingrid, mostly EVP of operations, and has been part of the Icons program. I guess what was the first year you actually participated?
T
Timo Kiiveri0:18
I've been doing the data collection I believe since the first round, but the first conference was back in Vegas, 22 or 21 years ago.
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Interviewer0:28
Thank you. Welcome today, I appreciate the opportunity to chat. I was hoping that we could explore a little bit about your thinking on the Icons program – what it's meant to Fingrid and what your views are of the value of the Icons program.
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Timo Kiiveri0:56
Let's put it this way: when this Icons program started, almost 30 years ago, a long time ago, and I will always say back then it was something else than it is today. One of the main drivers, of course, was to get those awesome new competencies and ideas from the peers, but one of the real drivers was that our owners were very persistent that we take care that we are very productive and effective. And ever since, at least what has been driving us is that we want to be the best in the performance part at a reasonable cost.
I
Interviewer1:33
Well, Fingrid has accomplished many things in the last 30 years that I've been involved. But beyond being efficient and productive, right, you've been an extraordinarily innovative company as well, leading the pack, leading the industry I would say in many technology areas. So you've clearly gone well beyond where your original owners wanted you to go, which was low cost. What contributes to that success on the creativity and innovation front?
T
Timo Kiiveri2:11
As I said, from the very early days, the whole mindset and Fingrid and the former companies prior to that have been very focused on innovation and being a very agile type of company, even though being a utility, which is quite a contradiction, or it could be a contradiction, and it is in many places around the world.
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Interviewer2:34
One of the things that has always impressed me other than what you've accomplished – being a consistent low-cost company and one of the great innovators, a company that delivers both low cost and high service level – has been Fingrid's commitment to helping other companies. It's almost as if you believe as part of your core values that a rising tide floats all boats. Fingrid has the advantage of being a leader but is also very committed to helping others around the industry learn from you. So as you mentioned, one of your four core values is being transparent.
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Timo Kiiveri3:14
And being fair. I would say that all these actions that we are taking accordingly are really based on our values and our mindset in the company. Nothing else beyond that.
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Interviewer3:27
It's been delightful working with you and Mark before him and Reina before him – a long series of brilliant innovators that have brought a great deal of value to Icons and to your neighbors. As you look forward into your crystal ball and look at the challenges ahead for the transmission business globally – I'm not sure there's ever been a time of more rapid change – so what do you see as the key challenges?
T
Timo Kiiveri4:04
I would say that what really comprised it pretty much very well was the keynote speech yesterday provided by the employee. And as he puts the scheme or scene for the whole industry – how this energy transition is ongoing and what is really required: new technology, new type of skills, demand responsibility, price elasticity, just naming a few. And a huge accelerated pace, and everybody is investing like madmen. So huge challenges ahead of us, but on the other hand, this is an extremely interesting time we are living in. So now that's probably – somebody will see you, actually – I know it's very cool with this business again, and it's nice to be part of it.
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Interviewer4:52
Indeed. I know things cycle over time, but I didn't think we'd get this quickly to being cool again as an industry. It is quite interesting that we're now able to attract some of the brightest young talent on the technology side because we are at the epicenter of where all of this energy change happens. I mean, if we fail, nothing works. So, I guess lastly, what do you see as the value and opportunity the Icons program can provide to the industry as we wrestle with all of these challenges and develop new solutions?
T
Timo Kiiveri5:34
I would say pretty much what it has been all about: that it's really learning from the others, from the peers. One of my ideas to attend the conference is that if you are able to leave the conference with one idea that you are able to accomplish and really put that into action – something new – then it's successful.
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Interviewer5:52
I once had an executive steering group for a series of best practice presentations and conferences. I asked them – I screwed up the courage to ask them, because they say in a group you never ask a question you don't already know the answer to – I said, 'Why do you come here? Every year you give up three days and you come wherever we're going to go meet. I know the program is good, but we can't be that good. Why do you come?' And they said exactly that: they said, 'When I'm home, I am almost never exposed to a really new idea. I'm in the process of doing. But when I come here, I would go anywhere to get one really good idea. One really good idea is huge value. And when I come here and work with the other people that you've brought together from around the industry, I go home with three or four. It's an unparalleled yield rate of good ideas.' And so that's what we try to do here at Icons: deliver maximum insight and value from the innovation going on across the industry. And I appreciate everything you've done for us – Fingrid's leadership of the program and of the industry in terms of innovation. So thank you, thank you very much for being part of Icons, for agreeing to do this little interview.
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Timo Kiiveri7:26
Yeah, thanks for having us.
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Interviewer7:27
All right, thank you, thank you.