The downed Olkiluoto 2’s share of the entire electricity production in Finland is considerable, on average about 8 percent.
Olkiluoto nuclear power plant. Joel Maisalmi
The impact of Olkiluoto 2’s production shutdown on the electricity market has so far been minor, says Fingrid’s senior expert Jani Pelvo.
– The electricity market has been able to fix it easily. Estonia’s exports have been reduced, and in Finland, hydropower and a little bit of other power, which was at a rather low power, have been adjusted slightly upwards.
“Fortunate Moment”
Olkiluoto 2’s share of the entire electricity production in Finland is considerable, on average around 8 percent. For Säide, the break happened at a “lucky moment”, says Pelvo.
– Now that Finland’s electricity consumption is still at summer readings and the warm weather continues, the effect is quite small. However, it is difficult to say three weeks from now, what the weather will be like, and what kind of heating loads will be on. If the weather gets tougher and the need for electricity increases, yes, as a basic idea, the absence of 900 megawatts from the Finnish market will be seen as an increase in prices.
According to Pelvo, equilibrium can be found in the market in any situation.
– The electricity market reacts to it to the extent of the capacity that the border connection has, i.e. exports turn into imports. And there is power plant capacity in Finland that is not currently in operation. After all, we have to make it through the winter here, when electricity consumption can be 13,000 megawatts, or 5,000 more than now.
According to Teollisuuden Voima’s notice of disruption, production is at a standstill until September 29. Pelvo believes that electricity producers and thus the market will be moderately confident in the announcement.
– In general, TVO’s announcements have been quite accurate – at least as far as the maintenance times of rotating plants are concerned.
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