Nuclear Energy in Finland – from new build to waste management – Olkiluoto, the way forward to clean & safe secure electricity

Speaker: Veijo Ryhänen, TVO

Energy is a central resource for the modern society. To ensure a sufficiently versatile and inexpensive energy supply capacity, the Finnish energy production contains domestic energy resources, mostly hydro and biomass, and also gas, coal and nuclear energy.

The opening of the market will accelerate the disappearance of economically non-viable capacity from the market and the production structure has to adapt to the new situation. Environmental considerations will guide future power investment projects, and these projects are also governed by strict economic viability requirements and the mechanisms of the energy market.

The Finnish Government made a decision in principle in January 2002 stating that the construction of a new nuclear power plant is in line with the overall good of the society. Parliament ratified the Government’s decision in May 2002 and after an open tendering procedure for new nuclear power plant TVO selected the European Pressurized Water Reactor (EPR). In February 2005 the Government granted the construction licence for Olkiluoto3. The new nuclear power plant at Olkiluoto site, Eurajoki, is now under construction.

In order to give an update of the Finnish energy situation, TVO will present the new EPR as well as the Finnish waste management system including the construction of the final disposal facility for the spent fuel.