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New Nuclear Power Plant Project in Finland Veijo Ryhänen TVO

Energy Conference Lisbon , 22 February 200 6. New Nuclear Power Plant Project in Finland Veijo Ryhänen TVO. Contents. S upply of electricity in Finland Role of nuclear power Arguments supporting nuclear new build Status of nuclear waste management New OL3 power plant

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New Nuclear Power Plant Project in Finland Veijo Ryhänen TVO

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

  2. Contents • Supply of electricity in Finland • Role of nuclear power • Arguments supporting nuclear new build • Status of nuclear waste management • New OL3power plant • Concluding remarks

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

  4. Nuclear Power Plants in Finland Olkiluoto Loviisa OL1 BWR 840 MW 1978OL2 BWR 860 MW 1980 LO1 PWR 488 MW 1977 LO2 PWR 488 MW 1980 Olkiluoto Loviisa Helsinki

  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 Forecast Statistic 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. Current Status of Waste Management Programme • 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

  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 OPERATING LICENSE CONSTRUCTIONPERMIT Government DECISIONIN PRINCIPLE Government ENVIRONMENTALIMPACTASSESSMENT Government Parliament Ministry of Trade and Industry

  16. April 2005

  17. October 2005

  18. January 2006

  19. OL3 Status - February 2006 • 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

  20. Olkiluoto in 2009

  21. ONKALOSite 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 • CO2 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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