Teollisuuden Voima Oyj publishes Annual Report 2021

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In 2021, the share of nuclear power was about 33 percent of all electricity produced in Finland. During its over 50-year history, Teollisuuden Voima Oyj (TVO) has produced more than 540 terawatt hours (billion kilowatt hours) of climate-friendly electricity in total.

The spread of the global coronavirus pandemic (COVID-19) had an impact also on the TVO Group's operations during 2021. Considerable measures were continued during the year in order to prevent the spread of COVID-19 infections, and despite COVID-19 restrictions, work has been able to continue under special arrangements and no widespread transmission chains have occurred at the TVO Group.

The electricity generation at TVO’s Olkiluoto nuclear power plant in 2021 totalled 14.4 terawatt hours, which accounted for about one-sixth of all electricity consumed and about 21 percent of all electricity produced in Finland. The combined load factor of the plant units was 92.8 (93.5) percent. The Group’s turnover was EUR 298.7 (275.1) million.

Preparing the Olkiluoto 3 EPR (OL3) plant unit for production proceeded to nuclear commissioning in 2021, when fuel loading was completed in April, and reactor criticality was achieved for the first time in December. Electricity production is to start in March 2022, once the plant unit is connected to the national grid. Regular electricity production starts in July 2022.

TVO’s Annual Report 2021 has been published on 17 February 2022 at approximately 2 p.m. EET in Finnish and English, and is available on TVO’s website 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 Social Responsibility Report, and the Environmental Report. TVO’s Financial Statements have been published according to European Single Electronic Format (ESEF) reporting requirements for the first time. 

For further information, please contact:
Anja Ussa, Senior Vice President, Finance, Tel. +358 (0)50 342 3464


Teollisuuden Voima Oyj has produced electricity for its shareholders, Finnish industrial and energy companies, safely and reliably for 40 years. Nuclear electricity generated at TVO's Olkiluoto plant covers approximately one sixth, increasing to nearly one third once Olkiluoto 3 is completed, of the electricity consumption in Finland. Climate-friendly nuclear electricity not only benefits society but also reduces the environmental impact of energy production. Moreover, the world's first final disposal facility for spent nuclear fuel is under construction in Olkiluoto.