According to Jukka Ruusunen, a professor of industrial engineering at LUT University, the maintenance of three large nuclear power plants at the same time would have a significant impact on electricity prices in Finland. Over 25% of the country’s electricity production capacity would be affected if all three units of the Olkiluoto nuclear power plant were under maintenance simultaneously.
The risk of this scenario increased recently when Teollisuuden Voima (TVO) announced the extension of maintenance for Olkiluoto 2. The three units of Olkiluoto power plant produce a total power of approximately 3,380 megawatts, accounting for a significant portion of Finland’s electricity production. If all three were simultaneously offline, it would lead to an increase in electricity prices on the market, according to Ruusunen.
While there is no immediate concern about power sufficiency, the prolonged maintenance schedules for these plants can impact the price of electricity in the market. The maintenance schedules for nuclear power plants are planned years in advance and require the participation of thousands of people and specialists from around the world.
Energy companies like TVO adhere to these schedules and it would be difficult for authorities to intervene unless there was an exceptional situation. The maintenance schedules for nuclear power plants are important for ensuring the smooth functioning of the electricity market in Finland.
Authorities are preparing to act in case of exceptional circumstances but for now, they are focusing on ensuring that maintenance proceeds as planned without causing any significant impact on electricity prices or power sufficiency in the country.