Teollisuuden Voima Oyj publishes 2019 Annual Report
As in previous years, the Olkiluoto 1 and Olkiluoto 2 plant units produced reliable green energy in 2019 with a combined load factor of 94.8 %. The Finnish Government granted an operating licence for the Olkiluoto 3 EPR plant unit. According to the new schedule provided by the Plant Supplier, regular electricity production at OL3 EPR will start in March 2021. Posiva’s final disposal project accomplished a significant milestone by starting the construction of the encapsulation plant.
The electricity production of Teollisuuden Voima Oyj’s (TVO) nuclear power plants in Olkiluoto was in 2019 the second highest in history; 14.75 terawatthours (billion kilowatthours) which equals approximately 17% of all electricity consumed in Finland and 22% of all electricity produced in Finland. The amount of electricity delivered to the shareholders was 14,911 (14,723) GWh. The Group’s consolidated turnover for 2019 was EUR 254.2 million, showing a decrease over the previous year (EUR 350.3 million) due to the lower Nuclear Waste Management fee and the reduced amount of electricity delivered by the Meri-Pori power plant.
Olkiluoto plant units 1 and 2 are in safe and good production condition. OL1 plant unit made a production record of 7.54 TWh and the combined load factor of the plant units was 94.8 percent. The overall electricity production of the Olkiluoto nuclear power plant also exceeded 500 TWh last year.
Most of the construction works for the Olkiluoto 3 EPR plant unit have been completed and the Finnish Government granted an operating licence for the unit in March 2019. According to the schedule updated by the Plant Supplier AREVA–Siemens Consortium in December 2019, nuclear fuel will be loaded into the reactor in June 2020, the first connection to the national grid will take place in November 2020 and the regular electricity production of OL3 EPR will start in March 2021.
Posiva’s final disposal project of spent nuclear fuel accomplished a significant milestone when the Company’s Board of Directors decided on the construction of the encapsulation plant and the underground final disposal repository. The foundation stone of the encapsulation plant was laid in September 2019, with the Finnish Prime Minister in attendance.
TVO’s Annual Report 2019 is published on 26 February at approximately 4 pm EET in Finnish and English, and will be available on TVO’s wbsite at www.tvo.fi/financialpublications.
The Annual Report consists of the Report of the Board of Directors, Financial Statements, the Corporate Governance Statement, the Corporate Responsibility Report and the Environmental Report.
For further information, please contact: Anja Ussa, Senior Vice President, Finance, tel. +358 2 8381 6100