On Monday morning, Finland experienced an interruption in electricity production due to a fault detected in the turbine plant at the Olkiluoto nuclear power plant operated by Teollisuuden Voima (TVO). TVO announced that the estimated end time for the turbine plant fault is Wednesday at 01 am, with production power expected to gradually increase after that. The director responsible for the energy market at the Energy Industry Association, Pekka Salomaa, expects that the outage of OL3 will lead to an increase in the price of electricity.
As a result of the interruption, Finland was dependent on imported electricity from Sweden and Norway’s hydropower to make up for the shortfall. The fault in OL3 came as a surprise, as the plant had been running without problems until then. It is uncertain when production will resume, and the timing depends on the nature of the fault and the repair estimate.
OL3 is of great importance in stabilizing the price of electricity in Finland, and this fault happened at a time when wind power support was not available due to intensifying frost conditions. This is expected to lead to an increase in spot prices, with hourly prices for Tuesday’s stock electricity being determined at 2 p.m.
There is no information about any other unrelated content following these paragraphs about Olkiluoto nuclear power plant operation and its impact on electricity production and pricing in Finland.