Teollisuuden Voima Oyj’s Interim Report 1 January–31 March 2024
During the first quarter of 2024, Teollisuuden Voima Oyj’s (TVO) electricity generation at the Olkiluoto 1 (OL1), Olkiluoto 2 (OL2) and Olkiluoto 3 (OL3) plant units continued safely and reliably. The electricity production of the nuclear power plant units during the period in review was 6,143 GWh (4,718 GWh).
An environmental impact assessment programme (EIA programme) concerning the possible service life extension and power uprating of the OL1 and OL2 plant units was submitted to the Ministry of Economic Affairs and Employment (MEAE), which acts as the coordinating authority, in January 2024 and a public event concerning the programme was held at Olkiluoto in February.
The first annual outage for OL3 started on 2 March 2024.
For the time being, the grid operator Fingrid Oyj (Fingrid) has limited OL3’s production to a maximum of 1,570 MW. Furthermore, output at all three Olkiluoto plant units has been reduced in situations where electricity generation has been high in the Nordic countries. Production from all three plant units substantially supports Finland’s self-sufficiency in terms of electricity and helps in achieving the goals for carbon neutrality.
With the exception of a small delay, the processing of Posiva’s operating licence application has progressed well at the Radiation and Nuclear Safety Authority (STUK). In September 2023, the Radiation and Nuclear Safety Authority (STUK) reported that the safety assessment and statement on the operating licence application for the disposal facility for spent nuclear fuel will be completed in 2024. Work related to the installation and commissioning of the encapsulation plant and the underground production equipment is proceeding as planned towards starting the joint functional test during the latter half of 2024. The final disposal of spent nuclear fuel is to start at Olkiluoto in the mid-2020s.
TVO Nuclear Services (TVONS) offers expert services in the design, implementation, operation and life cycle management of nuclear power plant projects. In February 2024, TVONS and Fortum signed a two-year framework agreement with the Polish Polskie Elektrownie Jądrowen (PEJ). PEJ is responsible for the construction of Poland’s first nuclear power plant.
Full Interim Report can be found here
For further information, please contact:
Anja Ussa, Senior Vice President, Finance, Responsibility, IT, Business Development and Support Services, puh. +358 (0) 50 342 3464
Teollisuuden Voima Oyj has produced electricity for its shareholders, Finnish industrial and energy companies, safely and reliably for over 40 years. The island of Olkiluoto produces about 30 percent of Finland's electricity needs. 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.
