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New Nuclear Power Plant Project in Finland Veijo Ryhänen TVO Energy Conference Lisbon, 22 February 2006.

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Presentation on theme: "New Nuclear Power Plant Project in Finland Veijo Ryhänen TVO Energy Conference Lisbon, 22 February 2006."— Presentation transcript:

1 New Nuclear Power Plant Project in Finland Veijo Ryhänen TVO Energy Conference Lisbon, 22 February 2006

2 Contents Supply of electricity in Finland Role of nuclear power Arguments supporting nuclear new build Status of nuclear waste management New OL3 power plant Concluding remarks

3 Electricity Supply by Energy Sources in Finland 2005 (84.9 TWh) Hydro 16.0 % Wind 0.2 % Peat 5.3 % Biomass 10.5 % Nuclear 26.3 % Natural gas 10.5 % Coal 8.2 % Oil 1.8 % Net imports 20.0 % Waste 1.2 % Source: Finnish Energy Industries

4 Loviisa LO1 PWR 488 MW 1977 LO2 PWR 488 MW1980 OL1 BWR 840 MW1978 OL2 BWR 860 MW1980 Olkiluoto Loviisa Helsinki Nuclear Power Plants in Finland Olkiluoto

5 TVO  Company Privately owned generating company established in 1969 Personnel about 630 Turnover about EUR 200 mill. Sells electricity only to the shareholders at cost basis  Existing Nuclear Power Plant Units (Olkiluoto 1 and 2) 840 and 860 MWe, BWR, Westinghouse Atom Start of operation in 1978 and 1980 Modernization and uprating programmes since 1982  New Nuclear Power Plant Unit (Olkiluoto 3) 1600 MWe, PWR, Framatome/Siemens consortium Start of operation in 2009  Other Power Plants 45% share in 565 MW coal-fired power plant (Meri-Pori) 1 MW wind power plant at Olkiluoto  Subsidiaries Posiva Oy (60 %) responsible for the final disposal of spent fuel TVO Nuclear Services Oy (100 %) specialized in know-how consulting

6 Olkiluoto Power Plant Site in 2004

7 Electricity Consumption in Finland TWh Statistic Forecast Source: Finnish Energy Industries

8 Arguments for a New Nuclear Plant Unit Covers partly the additional electricity demand and replaces old power plants Enables, together with renewables, the fulfilment of the Kyoto commitments Secures stable and predictable electricity price Reduces the dependence on electricity import

9 Olkiluoto 1 and 2 Electric Power Production (TWh) and Capacity Factor (%)

10 Power Generating Costs with Emission Trading Premium

11 Greenhouse Gas Emissions 1990-2004 and Finland’s Commitment Source: Statistics Finland

12  Two underground repositories for LLW/ILW in operation since 1992 (Olkiluoto) and 1998 (Loviisa)  Spent fuel  Site selected for the deep repository (Olkiluoto)  Construction of the underground site characterisation facility (ONKALO) started in 2004  Start of final disposal in 2020  Funds collected for future costs of nuclear waste management  EUR 1.4 bill. in 2005 Current Status of Waste Management Programme

13 Spent Fuel Management Interim storage in water pools at the power plant sites (total accumulation 1380 tU by the end of 2004) Preparations for final disposal since the early 1980s (R&D, siting, EIA) ”Decision in Principle” process (1999-2001) for implementation of final disposal; decision of the Government in 2000, ratification by the Parliament in 2001 Direct disposal in crystalline bedrock; site selected for the deep repository (Olkiluoto in the municipality of Eurajoki) Construction of the underground rock characterisation facility (ONKALO) started in 2004

14 OL3 Project in a Nutshell Licensing Decision in Principle – application in 2000, the Government’s decision ratified by the Parliament in 2002 Construction licence in 2005 Supplier: Consortium formed by Framatome ANP and Siemens Power plant Reactor type EPR (PWR) Net electrical output 1,600 MW Estimated annual production 13 TWh Investment cost EUR 3 billion Start-up of operation – 2009

15 Nuclear Licensing Process in Finland ENVIRONMENTAL IMPACT ASSESSMENT Ministry of Trade and Industry DECISION IN PRINCIPLE Government Parliament CONSTRUCTION PERMIT Government OPERATINGLICENSE

16 April 2005

17 October 2005

18 January 2006

19 Engineering, licensing, manufacturing and construction proceed, more than 900 subcontracts signed; number of designers in excess of 1000 Licences and permits needed for the construction granted Owner’s work completed at site, construction site handed over to the Supplier Certain civil works and manufacturing over six months behind the original schedule; however, electricity production estimated to start in 2009 Financing and insurances in place Civil work proceeding, manpower at site about 600, over 20 nationalities Recruiting in progress, training of operating personnel (41 persons) has commenced OL3 Status - February 2006

20 Olkiluoto in 2009

21 ONKALO Site in 2005

22 Spent Fuel Repository around 2050 Source: Posiva

23 Facts Supporting Use and New Build of Nuclear Power in Finland Positive technical and economical experiences of nuclear power over 25 years Competitive generating costs and long-term price predictability CO 2 free energy form in line with national targets Efforts to reduce dependence on import and to increase security of supply Suitability of TVO’s ownership for long-term investment (cost base model) Politically accepted spent fuel disposal and waste management solutions, as well as proper funding arrangement for future costs

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