Nuclear Power Plant Maintenance Risk Causes Concerns over Electricity Prices in Finland

As per the LUT University industrial professor Jukka Ruusunen, the maintenance of three large nuclear power plants at the same time could have a significant impact on electricity prices in Finland. Over 25 percent of the country’s electricity production capacity would be affected if all three units of Olkiluoto nuclear power plant were under maintenance simultaneously. This risk has recently increased due to Teollisuuden Voima (TVO) announcing an extension of maintenance for Olkiluoto 2.

The three units of Olkiluoto nuclear power plant produce a total power of approximately 3,380 megawatts, which is a considerable portion of Finland’s electricity production. If all three were simultaneously offline, it would cause an increase in electricity prices on the market, according to Ruusunen.

While there is no immediate concern about power sufficiency, prolonged maintenance schedules for these plants can affect the price of electricity in the market. The maintenance schedules for nuclear power plants are planned years ahead and require thousands of people and experts from around the world.

Energy companies like TVO adhere to these schedules and it is challenging for authorities to intervene unless there is an exceptional situation. The maintenance schedules for nuclear power plants are critical for ensuring that the electricity market operates smoothly in Finland.

Efforts are being made to ensure that maintenance schedules are followed and that there is no significant impact on electricity prices or power sufficiency in the country. Authorities are prepared to act if exceptional circumstances arise, but for now, their focus remains on ensuring that these crucial power plants maintain their operations as planned.