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Main article: Economy of Finland
Power operator
NPP
- Loviisa NPP is the 1st nuclear power plant in Finland, which by 2022 provides more than 10% of electricity in the country.
Chronicle
2024: Plan for the construction of a new nuclear power plant and the search for a site for it
Finnish energy concern Fortum plans to build a new nuclear power plant (NPP) with a capacity of 1000-1600 MW, which is comparable to the capacity of the Olkiluoto-3 nuclear power plant. The company said this at a press conference in Helsinki on January 22, 2023. By the end of 2024, Fortum is due to complete a study of the conditions for new nuclear facilities in Finland and Sweden, which began at the end of 2022. At this stage, the company is considering six options for nuclear power plants, which include both large nuclear reactors with a capacity of up to 1600 MW, like the third power unit of the Olkiluoto NPP, and small modular reactors (SMR) with a capacity of 300-500 MW.
Fortum manager Laurent Leveglen said the company initially excluded reactor suppliers from Russia and China "for geopolitical reasons" and focuses on Western manufacturers, including France's EDF, America's Westinghouse Electric and South Korea's Korean Hydro and Nuclear.
The site of the Russian-Finnish Hanhikivi NPP, the construction of which was completed in 2022, is not considered for the new plant, as it is the subject of litigation, the Finnish magazine Talouselämä notes.
The natural place for the construction of new capacities may be Loviisa in Finland, where there is already a nuclear power plant. For a small nuclear power plant, one possible location could be the Outokumpu steel plant. New nuclear power plants can be put into operation no earlier than the mid-2030s, writes Ilta-Sanomat.
2023
Take-off of nuclear energy production by 32% due to refusal of energy supplies from Russia
On December 19, 2023, the Statistical Office of Finland reported that nuclear energy production in the country increased to a record level in January-September 2023, an increase of 32% compared to 2022.
State contributions to pay for energy by citizens and companies reached 1% of GDP
2022
Record 53% decline in gas consumption due to the rise in its price
Total gas consumption for all YeS-27 countries in the first eleven months of 2022 decreased by 11% compared to the level of 2019-2021. The leaders in the decline in gas demand are Finland (minus 53% in January-November) and the Baltic countries (Latvia, Lithuania and Estonia), which reduced consumption by 27-30%, and by November reached a demand compression of half of the average level 2019-2021.
Rise in electricity prices due to pressure on Russia
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Refusal to build Hanhikivi-1 NPP and courts with Rosatom
The Finnish side in the spring of 2022 demanded €1.7 billion from the Russian side, the state corporation in response filed lawsuits totaling €3 billion.
In December 2022, the International Arbitration refused Finland to present financial claims against Rosatom under the Hanhikivi-1 NPP construction project.
In April 2023, Rosatom demanded that the Finnish energy company Fennovoima close the loan for €920.5 million ahead of schedule after a unilateral break in the contract for the construction of the Hanhikivi-1 nuclear power plant.
2020: High per capita energy consumption
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See also
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