Teollisuuden Voima Oyj's Interim Report January–March 2015
During the first quarter of the year, Teollisuuden Voima's electricity generation at Olkiluoto 1 and Olkiluoto 2 plant units continued safely. OL2 generator failure decreased production. Olkiluoto 3 I&C system tests in the test bay in Erlangen, Germany proceeded. The employee information and consultation procedure started in January was completed.
The consolidated turnover for the period under review January 1–March 31, 2015 was EUR 79.0 (January 1–March 31, 2014: EUR 86.0) million. The amount of electricity delivered to shareholders was 3,434.7 (3,889.6) GWh. The decline in turnover was mainly due to an interruption in the power generation due to a leakage in the water-cooled generator of the OL2 plant unit.
On February 11, 2015 The Radiation and Nuclear Safety Authority in Finland (STUK) issued to the Finnish Ministry of Employment and the Economy (MEE) a favorable statement on the safety of the final disposal facility. STUK's safety statement is required for the decision on construction license that MEE will prepare and the Government will make.
TVO operates on a cost-price principle (Mankala principle). TVO's goal is not to make profit or pay dividends. The shareholders are charged incurred costs on the price of electricity and thus in principle the profit/loss for the period under review is zero. Because of the Company's operating principle, key indicators based on financial performance will not be presented.
For more information, please contact:
Jarmo Tanhua, President and CEO, tel. +358 2 8381 2000
Anja Ussa, Senior Vice President, Finance, tel. +358 2 8381 6100.
Teollisuuden Voima Oyj is a nuclear power company founded in 1969 for safe and reliable electricity production for its shareholders, Finnish industrial and energy companies. Nuclear electricity generated at TVO's Olkiluoto plant covers approximately one sixth of the yearly electricity consumption in Finland. Climate-friendly nuclear electricity not only benefits the Finnish society but also reduces the environmental impact of energy production.